Capitales Fijos from NY and PDVSA from Venezuela reached an agreement.

PRLog (Press Release) - Aug. 22, 2012 - Venezuela's state oil company PDVSA is engaged in the exploration, production, refining, transportation and marketing of hydrocarbons with the Capitales Fijos Inc, a U.S. private equity company and financial savings, subsidiary of The Bank of New York Mellon, both of New York, announced they reached an agreement in which the company PDVSA placed assets by millions of dollars, with preferential fixed interest, under a single annual nominal rate like Certificate of Deposit model.

This agreement is a major step forward for the Capitales Fijos Inc. They has three years serving the U.S. Hispanic market and two years trying to penetrate in the Latin American countries.

For the Venezuelan company PDVSA also has great significance, as economic reports confirm recent losses in the last three years and some debt.

As we confirmed Mr Victor Aular, PDVSA Chief Financial Officer, " with this agreement we place a percentage of our savings in a safe place and obtain long-term benefit. "

The amount of the transaction were not disclosed and the agreement will be effective starting September 1, 2012.