Website: Globo OnLine Section: Economy Date: 07/01/2005 State
Website: Globo OnLine
State: Rio de Janeiro
Bovespa launches index of companies that protect minority shareholders
The São Paulo Stock Exchange (Bovespa) will launch, on Thursday 7, the Tag Along Index (ITAG), a
new indicator which measures the performance of shares from companies which give minority
shareholders greater protection. The index was presented during a breakfast with the participation of
the chairman of Bovespa, Raymundo Magliano Filho, and the chairman of the Brazilian Securities and
Exchange Commission (CVM), Marcelo Trindade.
In Brazil, the Tag Along is provided for by the Law 10,303/01 (Corporate Legislation), in its Article
254-A, and ensures the extension of the conditions offered to controlling shareholders to the other
voting shareholders, in case the company’s control is sold.
América Latina Logística (ALL), Banco do Brasil, Diagnósticos da América (Dasa), GOL Linhas Aéreas,
Itaú, Net and TAM are among the new index’s companies.