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Petrobras Informed Yesterday (06/01) That It Signed a Contract to Acquire the 50% Stake of Edison S.p.A. in Ibiritermo for R$ 1!
The Brazilian oil giant Petrobras went shopping and announced yesterday (06/01), in a material fact to the market, that it signed a contract to acquire the remaining 50% of Ibiritermo — owner of UTE Ibirité, a power plant located in Minas Gerais with an installed capacity of 226 MW.
The state-owned company made a payment of 1 real in compliance with the Energy Conversion Contract (ECC) signed in June 2002 with Ibiritermo.
According to Petrobras’s statement, R$ 2.5 million will be paid to Edison, and the ECC will be terminated with the transfer of the Ibirité plant, the only asset of Ibiritermo that had already been operated by Petrobras since the signing of the energy conversion contract.
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The conclusion of the transaction is subject to approval by the Administrative Council for Economic Defense (Cade).
It is worth noting that Petrobras already has a 50% stake in Ibiritermo S.A., and after the conclusion of the transaction, the company will own 100% of the shares and exclusive ownership of UTE Ibirité.
“After the completion of the operation, Petrobras will take the necessary measures to initiate the liquidation of Ibiritermo S.A., and will operate UTE Ibirité as an asset integrated into its portfolio of thermoelectric plants, without associated corporate structure”, said the state-owned company in the statement.
About UTE Ibirité, Power Plant Located in Minas Gerais, Purchased by the State-Owned Company
Established in 2001, Ibiritermo S.A. is a privately held corporation, having as its only asset the 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 S.A. and Petrobras, with Edison S.p.A. as intervening party.
Through the ECC, Petrobras has been the lessee of the plant since 21/06/2002, being responsible for the operation and maintenance, fuel and water supply, and payment of connection fees and use of electricity distribution and transmission systems. In return, Petrobras is free to dispose of the energy generated by the plant.
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