Analyzes the matter of public companies going private, based on market experiences and also on recent specific regulation. (CVM Instructions 229, 299, and 345).

Discusses the false dilemma between greater protection versus extinction of the local capital market, in discussing the draft bill for the new Corporate Law. As reference, presents theoretical and empirical evidence that the more regulated markets are the more developed ones.

Explains the market distortions of control premiums in Brazil as a consequence of the imbalance of power in companies, based on the concentrated capital structure and on the illegal lack of support for the non-controlling shareholder. Also describes the corporate restructuring of Ultrapar and the important decision to extend tag-along rights to all shareholders.

About the Fiscal Board: its attributions, responsibilities, and its importance
as an effective corporate governance tool.