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In November last year, Petrobras announced the sale of Liquigás to the group formed by Copagaz, Itaúsa and Nacional Gás Butano
Petrobras – The technical area of the Administrative Council for Economic Defense (Cade), declared and the body’s deputy general superintendent, Patricia Alessandra Sakowski, accepted the acquisition of Liquigás by Copagaz, Itaúsa, Fogás and Nacional Gás Butano as “complex”. sAccording to Petrobras Natural Gas price should fall in August.
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The decision was taken this Thursday (25/06) and the process will now undergo an analysis of another 90 days, a period in which it will be analyzed whether the proposed distribution of assets between the parties is adequate to address concerns related to the possible exercise of unilateral power and equally incapable of minimizing risks of exercising coordinated power in the LPG distribution market.
CADE's technical note also says that it needs more information from market agents and the National Petroleum Agency (ANP) and also the deadline for presenting any economic efficiencies resulting from the operation and sharing it with the consumer.
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The first sale of Liquigás had already been vetoed by CADE after the agency declared the negotiation with the Ultra group “complex”. Still under the management of Pedro Parente at Petrobras, the transaction of R$ 2,8 billion was closed in 2017 and in March 2018 it was vetoed by the agency, resulting in a fine of more than R$ 200 million and causing a change in the new sale proposal .
In November last year, Petrobras announced the sale of Liquigás to the group formed by Copagaz, Itaúsa and Nacional Gás Butano. According to the company, the consortium's offer of R$ 3,7 billion was the best one made for participation in the distributor.
