HEADS-UP! Does the Bank of America have shares in Petrobas? If YES – then will John Key personally profit from oil drilling because he has shares in the Bank of America?

12 April 2011

John Key has shares in the Bank Of America.

(Register of pecuniary interests for NZ MPs).            Pg 36

http://www.parliament.nz/en-NZ/MPP/MPs/FinInterests/8/c/3/00CLOOCMPPFinInterests20101-Register-of-Pecuniary-Interests-of-Members.htm

John Key admits on 3 February 2011 at a Grey Power meeting that he has shares in the Bank of America.  (3 minute You tube clip)
http://www.youtube.com/watch?v=VXwNoaOpDMw

Does the Bank of America have shares in Petrobas?

The Bank of America was one of the banks which helped to manage the $70 billion worth of Petrobas shares sales last year.

“Petrobras said banks appointed to manage the share sale also have a greenshoe option to buy another 188 million shares worth about 5 billion reals. Citigroup (NYSE: C), Bank of America Merrill Lynch, Morgan Stanley (NYSE: MS), Credit Suisse (NYSE: CS), HSBC, JPMorgan, Deutsche Bank (NYSE: DB), Societe Generale, and a handful of Brazilian and Spanish banks were appointed to manage the share sale.”

DO THE BANK OF AMERICA HAVE SHARES IN PETROBAS?

Even if the Bank of America have just acted as ‘financiers’ as opposed to being shareholders – they will still presumably be getting paid for their services, and will thus be financially benefiting?

If yes – wouldn’t that mean John Key would arguably personally profit from oil drilling on the East Cape?

Just whose interests is John Key looking after here?

His own?

NOT a good look for the Prime Minister of NZ – ‘perceived’ to be the ‘least corrupt country in the world’?

Sending in the navy to arguably help protect your investment?

Cute.

Penny Bright

Ph (09) 846 9825
021 211 4 127
https://waterpressure.wordpress.com

http://www.themoneytimes.com/featured/20100926/petrobras-raises-record-70-billion-through-share-sale-id-10129711.html

Petrobras Raises Record $70 Billion Through Share Sale

by Surojit Chatterjee – September 26, 2010 – comments           

Brazilian energy giant Petroleo Brasileiro SA, better known as Petrobras (NYSE: PBR) , shattered previous share-sale records by raising nearly $70 billion from a share sale, proving wrong the critics who had warned that the company’s offering would not draw investors because of high government influence, wrong.

The Rio de Janeiro-based company said Thursday that it planned to sell 2.29 billion common shares for 29.65 Brazilian reals each — or a fraction below Thursday’s stock market closing price — and has priced 1.79 billion shares of preferred stock at 26.30 reals each. That also includes American depositary receipts — each representing two voting shares, which were priced at $34.49 — and preferred ADRs priced at $30.59, the company said in a regulatory filing.

In total, the company has sold $67 billion worth of shares.

The share sale broke a previous record set in 1987, when Japanese telecommunications company Nippon Telegraph & Telephone raised $36.8 billion.

Petrobras said banks appointed to manage the share sale also have a greenshoe option to buy another 188 million shares worth about 5 billion reals. Citigroup (NYSE: C), Bank of America Merrill Lynch, Morgan Stanley (NYSE: MS), Credit Suisse (NYSE: CS), HSBC, JPMorgan, Deutsche Bank (NYSE: DB), Societe Generale, and a handful of Brazilian and Spanish banks were appointed to manage the share sale.

http://www.reuters.com/article/2010/06/22/us-petrobras-idUSTRE65L26N20100622?pageNumber=2

Petrobras shareholders OK massive stock issue