In Brazil, the term "controlling shareholder" is defined in section 116 of Brazilian Corporation Act (Law No. 6,404/1976, also known as the "Lei das S.A."), meaning any individual or legal entity or any group of persons bound by a voting agreement or under common control that: a) permanently holds the majority of the voting rights in the company's general meetings and the authority to elect the majority of the company's managers; and b) effectively uses his/her/its authority to direct the company's activities and guide the operation of the company's management bodies.
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a shareholder who owns more than 50% of a company's voting shares
With 30% of the equity and 65% of the voting rights, they have become the company's new controlling shareholder.