6/19/09
Soros reports 73.5% increase in Petrobras stake
Marketwatch.com ^ | February 17, 2009 | Tony Cooke
FR Posted on Saturday, June 19, 2010 3:21:12 AM by wac3rd
Billionaire investor George Soros on Tuesday reported that during the fourth quarter he increased his already considerable stakes in Brazilian state-controlled oil company Petroleo Brasileiro S.A. /quotes/comstock/13*!pbr/quotes/nls/pbr (PBR 38.29, +0.05, +0.13%) and Potash Corp. of Saskatchewan Inc. /quotes/comstock/13*!pot/quotes/nls/pot (POT 99.36, -1.25, -1.24%).
Soros, through his Soros Fund Management LLC, reported holding 36.8 million American depositary receipts of the Brazilian oil company known as Petrobras as of Dec. 31 - a holding valued at about $900 million at the time. Soros held 21.2 million ADRs at Sept. 30, according to his disclosure filed with the SEC.
Soros also reported holding $434 million in Canadian Potash shares as of Dec. 31 - a total of about 5.9 million shares. He reported holding 3.3 million Potash shares as of Sept. 30. Petrobras and Potash were the two largest stakes reported by the Soros fund as of Dec. 30 (Excerpt) Read more at marketwatch.com ...
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FR ANALYSIS Ingtar wrote: Lend is a misused word in these cases. It usually amounts to a grant, but they call it a loan to make it more palatable. Of course, the rigs freed up in the Gulf are now on the way to make Soros’ investment pan out.
Ohaha stupidly shut down US offshore drilling--33 rigs-- and put Americans out of work. But Ohaha is "lending" $2B to Brazil to drill even deeper than the calamitous Horizon platform, using the same rigs now in the Gulf.
Watta coincidence (/snix). George Soros, has a $900M stake in Petrobras (Brazilian Big Oil). US taxpayers will never see that $2B "loan" again.
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HERE'S WHY OBAMA WENT TO INDIA: 8/26/10 Soros' Quantum hedge fund last week purchased Dubai Financial Group's 4% stake in the Bombay Stock Exchange....... Soros' investment comes as India works to modernize its capital markets, opening new exchanges, streamlining trading and introducing new products, like currency futures.
News sources say Soros sold his entire Brazilian Petrobras stake to help finance the purchase of 4% stake in Bombay Stock Exchange. Buying and selling of non-US listed companies, including ADRs on US stock exchanges, is not required to be registered on the SEC forms.