On 29 October 2024, BRZ CVM published Resolution 216 and Resolution 215 re the issuance of public share acquisition / takeover offers and the introduction of simpler procedures.

• Resolution 216 covers specific changes to harmonize rules with Resolution 215.
• Resolution 215 set new regulatory regime for the OPA, replacing Resolution 85.
• These Resolutions are a result of Public Hearing 05/23, re public share acquisition.
• The main innovations include takeover bid for increased shareholding; differentiated quorum; hypotheses for automatic exemption from the appraisal report; OPA auction.
• Additionally, intermediary functions; registration rites, and confidential inquiries.
• Resolutions 216 and 215 shall come into force on 1 July 2025.