Limits of the public interest in the minority shares of the public companies and partly-state owned companies

• Grant number: 17/23122-5
• Support type: Scholarships in Brazil - Scientific Initiation
• Effective date (Start): March 01, 2018
• Effective date (End): December 31, 2018
• Field of knowledge: Applied Social Sciences - Law - Private Law
• Principal researcher: Gustavo Saad Diniz
• Grantee: Pedro Cavalcanti Bandeira
• Home Institution: Faculdade de Direito de Ribeirão Preto (FDRP). Universidade de São Paulo (USP). Ribeirão Preto , SP, Brazil

Abstract

The Federal Constitution grants the State a possibility of intervention in the economic field respected as requirements imposed by the provision in article 173. Given the requirements, the public administration starts to act through the creation of state-owned enterprises, in the modalities of the mixed economy society and public company. The two types of state enterprise will perform an important function in the economy, fulfilling the objectives listed in the law that originated them. Among the forms of activity performance, and consequent pursuit of public purposes, the present research project is especially interested in the technique of intervention in which the State is a shareholder of private companies. The doctrine identifies this intervention technique as the one by which the State undertakes as shareholder of private companies. Among the main reasons, it is sought to understand, in particular, the investment for economic stimulus and execution of strategy of expansion of groups. Still within the context of the shareholder technique, the present study proposes the specific study of minority interests in the hypotheses in which there is no share control. With this background, the text will be able to understand the implications of the differences in the corporate regime of the public company and the mixed-capital company for the execution of its public purposes by means of the shareholding technique and also to determine the limit of the public interest of these minority groups. (AU)