Petrobras (PETR4) Continues Process of Ending Partnership with Exchange-Traded Company

Written by Paulo Nogueira

Published on 30/10/2023 at 19:54

Tanques de armazenamento de combustíveis da Petrobras. Fonte: Divulgação

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Petrobras (PETR4) Announces Progress in Negotiations for the Sale of 18.8% of Its Stake in UEGA (Natural Gas Power Plant in Araucária), a Partnership It Maintains with

According to Petrobras, the potential buyers classified for this phase will receive an invitation letter with instructions on the divestment process. The company is proceeding with the sale of 18.8% of its stake in UEGA, a company it maintains with Copel. This partnership consists of Copel, which holds another 20.3%, and Copel Geração e Transmissão S.A, which holds 60.9% of the power plant. Petrobras had already informed last month that it would continue with its divestments.

The sale of this asset is aligned with the decarbonization process of Copel’s generation matrix and follows the company’s Corporate Strategic Planning, referred to as Vision 2030. This measure strengthens the pillars for the sustainability and sustainable growth of the business, according to the company.

Potential Buyers Highlighted by Petrobras

In the statement, Petrobras emphasizes that the potential buyers classified for this phase will receive an invitation letter with instructions on the divestment process. This letter will include guidance for conducting due diligence and submitting binding proposals. The company highlights that this disclosure is in accordance with its internal rules and the special divestment regime for federal mixed-economy companies, as provided for in Decree 9.188/2017.

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Copel and Its Strategy for the Coming Years

Copel, in turn, sees this opportunity as a way to strengthen its decarbonization process of the generation matrix, aligning with its Corporate Strategic Planning for the coming years. This measure contributes to the sustainability and sustainable growth of the company’s business, which is increasingly seeking clean and renewable energy sources.

This sale can also bring benefits to the electric sector as a whole, as the entry of new investors into UEGA may bring innovation and improvements to the plant, as well as strengthen the country’s energy security. Diversification in the electric sector is essential to ensure a sustainable and efficient energy supply.

In summary, Petrobras continues the divestment process of its stake in UEGA, a company it maintains with Copel. This sale is aligned with the decarbonization process of Copel’s generation matrix and is part of the company’s Corporate Strategic Planning. Potential buyers will receive an invitation letter with instructions on the divestment process, including guidance for conducting due diligence and submitting binding proposals. UEGA is a natural gas thermal power plant located in Araucária, Paraná, and this sale can bring benefits to both Petrobras and the electric sector as a whole.

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Petrobras (PETR4) Continues Process of Ending Partnership with Exchange-Traded Company

Petrobras (PETR4) Announces Progress in Negotiations for the Sale of 18.8% of Its Stake in UEGA (Natural Gas Power Plant in Araucária), a Partnership It Maintains with

Potential Buyers Highlighted by Petrobras

Copel and Its Strategy for the Coming Years

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Petrobras (PETR4) Continues Process of Ending Partnership with Exchange-Traded Company

Petrobras (PETR4) Announces Progress in Negotiations for the Sale of 18.8% of Its Stake in UEGA (Natural Gas Power Plant in Araucária), a Partnership It Maintains with

Potential Buyers Highlighted by Petrobras

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The river that “dies” in the desert never reaches the sea and yet gives life to one of Africa’s largest natural refuges in a truly impressive way.

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