Petrobras põe a venda fatia de 34% na Companhia Mega da Argentina

Petrobras Sells 34% Stake in Argentina’s Mega Company

Written by Paulo Nogueira

Published on 06/05/2019 at 16:28

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Petrobras Holds 34% Stake in Mega Company of Argentina, in Business Also Involving Repsol YPF and Dow Chemical as Partners.

Petrobras has initiated the stage of disclosing the opportunity regarding the full sale of its 34% stake in Compañia MEGA, through its wholly-owned subsidiary Petrobras International Braspetro. The other partners are Repsol YPF, with 38%, and Dow Chemical, with 28%. The teaser initiation was announced by the oil company this Monday, May 6.

MEGA is an Argentine company that processes natural gas and fractionates its liquids (ethane, propane, butane, and natural gasoline).

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According to Petrobras, the Mega gas processor has a natural gas processing plant with a capacity of over 40 million cubic meters per day and a natural gas liquids fractionation unit with a capacity of up to 5 million m³/day.

“This operation is aligned with the optimization of the portfolio and the improvement of the company’s capital allocation, aiming to generate value for our shareholders”, highlighted Petrobras, adding that the disclosure is in accordance with the systematic for divestments.

The disclosure is in line with Petrobras’ Systematic for Divestments. Remembering that the state-owned company will present the financial statement for the first quarter of 2019 next Wednesday (08).

The details of the Teaser are available on the state-owned company’s website http://www.petrobras.com.br/ri

Petrobras Also Released Teaser for Sale of Liquigás Last Month

Petrobras released in April the teaser with details for the sale of Liquigás Distribuidora, including “broad eligibility criteria” for the selection of potential participants and a deadline for expressing interest that ended on April 19, according to a market announcement.

The oil company had already stated that it would make adjustments to the teaser and extend the deadline for interested parties.

“The adjustments made aim to increase the competitiveness of the process, facilitating the participation of investors from other sectors, and mitigating competitive risks and market concentration.”

The study, which projects to limit the state-owned company’s participation to 50% of gas sales in the Country, suggests the sale of pipelines, assignment of supply contracts to private companies, and the creation of a free gas consumer.

Petrobras Sells 34% Stake in Argentina’s Mega Company

Petrobras Holds 34% Stake in Mega Company of Argentina, in Business Also Involving Repsol YPF and Dow Chemical as Partners.

Petrobras Also Released Teaser for Sale of Liquigás Last Month

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