Gulf Oil and Gas accountACCOUNT

Closing of Petrobras Chile Sale

Source: www.gulfoilandgas.com 1/4/2017, Location: South America

Share |
Petroleo Brasileiro S.A, Petrobras, further to the Material Fact disclosed on July 22, 2016, informs that it has completed, the sale of 100% of Petrobras Chile Distribuicion Ltda (PCD) to the Southern Cross Group.

The cash proceeds of the transaction were US$ 470 million, of which US$ 90 million derived from the distribution of net of taxes dividends of PCD, which took place on December 9, 2016, and the remaining US$ 380 million were paid today by Southern Cross Group. The amount is still subject to final adjustments.

PCD is Petrobras’ fuel distribution company in Chile. It has 279 service stations, one lubricant plant, eight distribution terminals, operations at 11 airports and stakes in two logistics companies. The operation also includes Petrobras and Lubrax brands licensing, for eight years, which can be renewed.

The Southern Cross Group is a Private Equity fund with US$ 2.9 billion in assets under management, with focus on investments in Latin America, in companies in the industrial, services, logistics and consumer goods sectors.

The transaction is part of the 2015-2016 partnerships and disinvestment plan, which reached US$ 13.6 billion in the two-year period. The sale is in line with the Strategic Plan of Petrobras, which aims to optimize the business portfolio.

Mergers and Acquisitions News in Brazil >>

United States >>  4/18/2018 - A new chapter in American solar panel manufacturing is set to unfold with SunPower and SolarWorld Americas announcing SunPower's agreement to acquire ...
Norway >>  4/16/2018 - Aker BP has joined Norway's GCE Subsea Cluster as a new industry partner. GCE Subsea is one of Norway’s three Global Centres of Expertise representing...

Denmark >>  4/12/2018 - A 50:50 joint venture (JV) between Maersk Drilling and Maersk Supply Service will leverage the companies’ heritage of over 50 years of safe and effici...
Singapore >>  4/9/2018 - Keppel Corporation Limited (KCL) wishes to announce that its wholly-owned subsidiaries, Keppel FELS Limited (KFELS) and Keppel Shipyard Ltd (KSL), hav...

Canada >>  4/5/2018 - Quorum Software has entered into a definitive agreement to acquire Calgary-based Entero Corporation, a trusted leader in energy software solutions for...
Norway >>  4/4/2018 - DNO ASA, the Norwegian oil and gas operator, announced that it has agreed to acquire 15.37 percent of the share capital of Faroe Petroleum plc from De...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Brazil Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 |

More News

 

Oil & Gas Companies in Brazil >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.