Petrobras Makes R$ 950 Million Payment to Settle Disputes With Petros Over Sete Brasil

Written by Roberta Souza

Published on 11/08/2020 at 10:20

Foto: reprodução

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Petrobras Informed CVM About Payment of R$ 950 Million to Petros, Regarding Issues Related to Investments in Sete Brasil

Petrobras informed in a statement sent to the Securities and Exchange Commission (CVM) that it made yesterday, the 10th, a payment to the Petrobras Social Security Foundation (Petros), in the amount of R$ 950 million.

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The payment made refers to the full amount of the agreement made with Petros on July 29 regarding the arbitration litigation related to the investment in Sete Brasil.

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“The agreement extinguished the litigation without acknowledgment of guilt or responsibility by either party and does not affect other lawsuits or arbitrations involving the parties, nor other litigations involving the investment in Sete Brasil”, the company states. “Petrobras remains in defense of its interests in ongoing processes.”

Petrobras Grants Sete Brasil More Time to Comply With Liquidation Terms

Petrobras extended the deadline for certain conditions of an agreement with Sete Brasil related to a charter and also regarding the termination of contracts for 24 drilling platforms. It also stated that its executive board postponed the deadline for the agreement between the two companies from June 30, 2020, to September 30, 2020.

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Petrobras Makes R$ 950 Million Payment to Settle Disputes With Petros Over Sete Brasil

Petrobras Informed CVM About Payment of R$ 950 Million to Petros, Regarding Issues Related to Investments in Sete Brasil

See Also Other News:

Petrobras Grants Sete Brasil More Time to Comply With Liquidation Terms

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Petrobras Makes R$ 950 Million Payment to Settle Disputes With Petros Over Sete Brasil

Petrobras Informed CVM About Payment of R$ 950 Million to Petros, Regarding Issues Related to Investments in Sete Brasil

See Also Other News:

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