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Petrobras Gás S.A. – Gaspetro a holding with equity participation in several natural gas distribution companies, located in all regions of Brazil
Although lawmakers are trying to prevent the sale of Gaspetro on the 14th, Petrobras informed yesterday (15) that it has initiated a new phase of a process to sell its entire 51 percent stake in the subsidiary Gaspetro.
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“Petrobras, continuing the announcement made on May 4, 2020, began the non-binding phase regarding the sale of its entire 51% stake in Petrobras Gás S.A. (Gaspetro),” said the state-owned company in a statement
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According to the company, potential buyers qualified for this phase will receive a descriptive memorandum containing more detailed information about the company in question, as well as instructions on the divestment process, including guidance for the preparation and submission of non-binding proposals.
The main subsequent steps of the project will be timely communicated to the market, Petrobras concluded.
Petrobras also informs that this disclosure is in accordance with the company’s divestment guidelines and the special divestment regime for federal mixed economy companies, as provided for in Decree 9.188/2017.
This operation is aligned with the optimization of the portfolio and the improvement of the company’s capital allocation, aiming to maximize value for its shareholders, it concludes.
About Petrobras Gás S.A. – Gaspetro
Gaspetro is a holding company with equity participation in several natural gas distribution companies, located in all regions of Brazil. In 2019, the total volume of gas distributed was 29 million m3/day, serving about 500 thousand customers through a distribution network of more than 10 thousand km of pipelines.
Its corporate structure consists of Petrobras, with 51% of the shares, and Mitsui Gás e Energia do Brasil Ltda., which holds the remaining 49% of the shares.
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