For R$1 plus compensation, Petrobras went shopping and took the remaining 50% of the shares in the Ibirité Thermoelectric Plant

The Brazilian oil giant Petrobras went shopping on June 01st and signed a contract to keep the remaining 50% of Ibiritermo — owner of UTE Ibirité, a plant located in Minas Gerais and with an installed capacity of 226 MW. The state-owned company announced yesterday (18/08), in a fact relevant to the market, that the purchase of Edison SpA's stake (50%) in the company Ibiritermo SA was concluded and the transfer of the Ibirité Thermoelectric Power Plant (UTE Ibirité) to the Company was carried out.

Bearing in mind that Petrobras already owned a 50% stake in Ibiritermo SA With the completion of the transaction, Petrobras now holds 100% of the shares in Ibiritermo SA and exclusive ownership of UTE Ibirité, starting its operation as an asset integrated into the portfolio of company's thermal plants, with no associated corporate structure. Also with the conclusion, Petrobras initiates the necessary measures for the liquidation of Ibiritermo SA.

About UTE Ibirité, a plant located in Minas Gerais, bought by the state-owned company

Founded in 2001, Ibiritermo SA is a privately-held corporation, whose sole asset is UTE Ibirité, located in the municipality of Ibirité, in Minas Gerais, with an installed capacity of 226 MW.

The plant is subject to an ECC contract – Energy Conversion Contract, signed on 21/06/2002, between Ibiritermo SA and Petrobras, with Edison SpA as intervening-consenting party.

Through the ECC, Petrobras has been the lessee of the plant since 21/06/2002, being responsible for the operation and maintenance, the supply of fuel and water and the payment of charges for the connection and use of the electricity distribution and transmission systems. On the other hand, it is up to Petrobras to freely dispose of the energy generated by the plant.