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Petrobras Announces It Will Sell Assets in Uruguay

Written by Paulo Nogueira
Published on 13/11/2019 at 15:50
Petrobras desinvestimento distribuição Uruguai
Placa contendo o logotipo da empresa Petrobras
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Petrobras Announced It Will Sell All Assets in the Neighboring Country As Part of Its Divestment Policy

As announced yesterday (12) by Petrobras, the sale of the Brazilian state-owned company’s businesses in the areas of fuel distribution, lubricants, and fertilizers in Uruguay has begun. According to the state-owned company, the goal is to dispose of all shares held by its subsidiary, Petrobras Uruguay Sociedad Anónima de Inversiones (Pusai), in Petrobras Uruguay Distribución S.A (PUDSA), a company operating in the distribution sector in the South American country.

In a statement, the company informed that the measure follows Petrobras’ Divestment Systematics and that “it is aligned with the optimization of the portfolio and the improvement of the company’s capital allocation, aimed at generating value for its shareholders.”

Petrobras has been pursuing a divestment policy in recent months that has even reached the neighboring country, having recently signed an agreement with the Uruguayan government to exit the natural gas distribution sector in the South American country. See more details of this transaction here.

Petrobras’ Businesses 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 lubricants logistics terminal, and an aviation kerosene plant. Additionally, the company has two logistics terminals for the storage and distribution of liquid fertilizers, being considered the largest trader in the country.

Further information on the opportunity disclosure (“teaser”), as well as eligibility criteria for selecting potential participants, can be found on the company’s website.

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Paulo Nogueira

Graduated in Electrical Engineering from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), he worked for several years in the offshore oil and gas, energy, and construction sectors. Today, with over 8,000 publications in online magazines and blogs on the energy sector, the focus is to provide real-time information on the Brazilian job market, macro and microeconomics, and entrepreneurship. For questions, suggestions, and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes at this contact.

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