Approval of Sale of Interests in Gaspetro

Source: www.gulfoilandgas.com 10/23/2015, Location: South America

Petrobras hereby announces that, continuing the operation announced on September 22, 2015, its Board of Directors, in a meeting held, approved the sale to Mitsui Gas e Energia do Brasil Ltda of 49% of Petrobras Gas S.A. (Gaspetro), holding company that consolidates the interests of Petrobras in the Brazilian state-owned natural gas distributors.

The total amount of the transaction is R$ 1.9 billion, which represents the value in the transaction closure date, scheduled for December 2015.

Mitsui Gas e Energia do Brasil is a wholly-owned subsidiary of Mitsui & Co., Ltd. (Japan) and has already equity interests in eight Brazilian state-owned natural gas distributors.

This transaction, performed through a competitive process, is part of the Divestment Program envisaged in the 2015-2019 Business and Management Program.

The conclusion of the transaction is subject to the usual conditions precedent, including approval by the competent authorities.

For more information about related Opportunities and Key Players visit Brazil Oil and Gas Projects


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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  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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