CADE Authorizes Compass to Compete Again for Petrobras' Gaspetro Acquisition

CADE Authorizes Compass to Compete Again for Petrobras’ Gaspetro Acquisition

Written by Flavia Marinho

Published on 01/01/2021 at 11:04

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Petrobras Allows Compass to Compete Again for the Purchase of Gaspetro, Following a Statement from the Administrative Council for Economic Defense (Cade)

Petrobras announced in a relevant fact last Wednesday (30/12) that after a statement from the Administrative Council for Economic Defense (Cade), it opted to continue Compass, a company of the Cosan Group, in the process of selling 51% of its subsidiary Gaspetro. Petrobras Ends Partnership with Sete Brasil for Only 7 Euros

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Petrobras’ subsidiary, Gaspetro, operates in the natural gas distribution market. According to the state-owned company, it received a letter from Cade informing that its continuation in the competition does not constitute a breach of the Term of Commitment to Cease (TCC).

“If the contract for the purchase and sale of shares is signed, the operation will be subject to Cade’s review at the time of the analysis of the Concentration Act regarding possible impacts on competition defense,” the statement to the press released by Petrobras said.

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CADE Authorizes Compass to Compete Again for Petrobras’ Gaspetro Acquisition

Petrobras Allows Compass to Compete Again for the Purchase of Gaspetro, Following a Statement from the Administrative Council for Economic Defense (Cade)

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