Brazil’s Petros Ups Stake In Marcopolo

Petros, the employee pension fund unit for Brazil’s oil company Petrobras, has increased its position in Brazilian bus maker Marcopolo to 15% of the preferred shares. Though Petros does not disclose the specific size of the increase, its new position represents 41.6m preferred shares, which would be worth BRL321.9m ($180.25m) at Monday’s BRL7.73 closing price. Officials at Petros and Marcopolo could not immediately be reached for comment or additional details late Monday. This increase gives Petros control over 9.29% of Marcopolo’s total capital. The purchase is part of a long-term investment strategy, the fund says, and it includes no attempt to change the company’s management.