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Petrobras Biocombustível is one of the largest biodiesel producers in the country. It has three plants located in Montes Claros, Minas Gerais
Petrobras informed last night (30/09), that it started the binding phase, referring to the sale of its wholly-owned subsidiary Petrobras Biocombustível SA (PBIO), where letters of invitation were issued by the state-owned company to the interested parties qualified in the previous phase. Imetame buys from Petrobras for almost US$10 million, onshore fields at Polo Lagoa Parda, in Espírito Santo
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According to Petrobras' note, the present transaction consists of the sale of 100% of Petrobras' shares in PBIO, including three biodiesel plants, and does not include the sale of PBIO's equity interests in BSBios (50,0%) and in Bambuí Bioenergia (8,4%).
Petrobras points out that the operation is in line with the strategy of optimizing the portfolio and improving the company's capital allocation, with a view to maximizing value for its shareholders.
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About PBIO – Petrobras Biocombustível
PBIO was founded in 2008 and is one of the largest biodiesel producers in the country with a 5,5% market share in 2019. It has three biodiesel plants located in: (a) Montes Claros, in the state of Minas Gerais (MG), with a production capacity of 167 thousand m3/year; (b) Candeias, in the state of Bahia (BA), with a production capacity of 304 thousand m3/year, and (c) Quixadá, in the state of Ceará (CE), in hibernation state with a production capacity of 109 thousand m3/year.
The three plants are capable of using a mixture of up to 5 different raw materials (soybean, cottonseed and palm oil, animal fat and residual oils) for biodiesel production, capturing advantages in seasonal price dynamics.
The divestment projects for the stakes held by PBIO in BSBios and Bambuí Bionergia are in progress and information considered relevant about these projects will be timely disclosed to the market in accordance with the applicable legislation and the guidelines established in the PBIO Divestment System.
