Petrobras sells 100% of its stakes in distributors in Paraguay

This project aims to improve Petrobras' capital allocation, consequently increasing the generation of value

Petrobras, continuing the Material Fact of 27/06/2018, informs that it finalized today (08/03/2019), through its subsidiary Petrobras International Braspetro BV (PIB BV), the sale of 100% of its equity interest in the companies Petrobras Paraguay Distribución Limited (PPDL UK), Petrobras Paraguay Operaciones y Logística SRL (PPOL) and Petrobras Paraguay Gas SRL (PPG) for the Copetrol Group, through its subsidiary Paraguay Energy.

The conclusion of the transaction took place with the payment of US$ 331,5 million made by Paraguay Energy in favor of PIB BV, after the fulfillment of all the conditions precedent, in addition to the US$ 49,3 million that had already been paid on the date of signing of the contract, resulting in a cash inflow of US$ 380,8 million.

The companies sold operate in Paraguay in the market for the distribution and sale of fuel, LPG, lubricants and other special products, through a network of 201 service stations, in addition to its own storage terminal and operations at three airports.

The agreement also foresees the licensing for use of the trademark Petrobras by the company Nextar (successor of Petrobras Paraguay Operaciones y Logística SRL), with exclusivity, in service stations in that country, for an initial period of five years.

This project contributes to improving the allocation of the company's capital, consequently increasing the generation of value.

Be the first to react!

0

Liked

0

Amei

0

Haha

0

Uau

0

Sad

0

grr