March 6, 2018 / 7:21 PM / a year ago

Brazil tour operator CVC says chairman temporarily steps down

SAO PAULO, March 6 (Reuters) - The chairman of Brazilian tour operator CVC Brasil Operadora e Agência de Viagens SA has asked to temporarily step down while authorities probe a money laundering scheme involving a company he has connections with, it said on Tuesday.

CVC Brasil said in a securities filing that Chairman Guilherme de Jesus Paulus had appointed Board Vice Chairman José Genesini Jr. to represent him until “clarifications are completed.”

The filing said CVC Brasil had no relation to CVC Operadora e Agência de Viagens TUR Ltda, which is being investigated by Brazil’s federal police and tax authorities. It did not specify how Paulus was involved with that tour operator.

“The Company reiterates that CVC TUR LTDA. and CVC Brasil are different companies and that CVC TUR LTDA is not part of the companies belonging to CVC Brasil and its subsidiaries,” it said.

Shares in CVC were flat at mid-afternoon, while Brazil’s benchmark Bovespa index was up 0.5 percent. (Reporting by Gram Slattery; Editing by Richard Chang)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below