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Petrobras announced that it will sell all assets in the portfolio that it has in the neighboring country as part of its divestment policy
As disclosed yesterday (12) by Petrobras, the sale of the Brazilian state-owned company's businesses in the areas of fuel, lubricants and fertilizers distribution in Uruguay was launched. According to the state-owned company, the objective is to dispose of all shares held by its subsidiary, Petrobras Uruguay Sociedad Anónima de Inversiones (Pusai), in Petrobras Uruguay Distribuición SA (PUDSA), a company operating in the distribution sector in the South American country.
In a note, the company informed that the measure follows the Systematic for Divestments of Petrobras and that "it is aligned with the optimization of the portfolio and the improvement of the allocation of the company's capital, aiming at the generation of value for its shareholders".
Petrobras has been following a divestment policy in recent months, which even reached the neighboring country when it recently signed an agreement with the Uruguayan government to leave the natural gas distribution area in the South American country. See more details of this transaction here.
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Petrobras Business in Uruguay
The portfolio of assets of the Brazilian state-owned company in Uruguay is quite broad, including 90 service stations, 16 convenience stores, a logistics terminal for lubricants, an aviation kerosene plant. In addition, the company also has two logistics terminals for the storage and distribution of liquid fertilizers, and is considered the largest supplier in the country.
Further information on the opportunity disclosure (“teaser”), as well as the eligibility criteria for the selection of potential participants, can be found on the company's website.
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