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Petrobras Biocombustível Is One of the Largest Producers of Biodiesel in the Country. It Has Three Plants Located in Montes Claros, Minas Gerais
Petrobras informs that on the morning of this day (07/03), it has begun the opportunity disclosure phase (teaser) regarding the sale of its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBIO). National Congress Tries to Prevent Sale of Petrobras Refineries
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According to Petrobras’ statement, this transaction consists of the sale of 100% of Petrobras’ shares in PBIO, including three biodiesel plants, and does not include the sale of PBIO’s equity interests in BSBios (50.0%) and Bambuí Bioenergia (8.4%).
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Check the Investor Relations website of Petrobras for the teaser containing the main information about the opportunity, as well as the eligibility criteria for the selection of potential participants.
Petrobras emphasizes that the subsequent stages of the project will be timely informed to the market. And that the operation is aligned with the strategy of portfolio optimization and improvement of the company’s capital allocation, aiming at maximizing value for its shareholders.
About PBIO – Petrobras Biocombustível
PBIO was founded in 2008 and is one of the largest producers of biodiesel in the country with a 5.5% market share in 2019. It has three biodiesel plants located in: (a) Montes Claros, in the state of Minas Gerais (MG), with a production capacity of 167 thousand m3/year; (b) Candeias, in the state of Bahia (BA), with a production capacity of 304 thousand m3/year, and (c) Quixadá, in the state of Ceará (CE), in a state of hibernation with a production capacity of 109 thousand m3/year.
The three plants are capable of using a blend of up to 5 different raw materials (soybean oil, cotton oil, palm oil, animal fat, and residual oils) for biodiesel production, capturing advantages in the seasonal price dynamics.
The divestment projects for PBIO’s interests in BSBios and Bambuí Bioenergia are ongoing, and information deemed relevant about these projects will be timely disclosed to the market in accordance with the applicable legislation and the guidelines established in PBIO’s Divestment Systematics.
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