Gulf Oil and Gas accountACCOUNT

Petrobras Approves Model for Additional Sale of Its Stake in BR Distribuidora

Source: www.gulfoilandgas.com 5/22/2019, Location: South America

Petrobras, following up in the release dated 04/26/2019, reports that its Board of Directors approved the model for the additional sale of its stake in Petrobras Distribuidora (BR) to be carried out through a secondary public offering (follow-on).

After the offering, the remaining of Petrobras’ stake in BR’s capital will be lower than 50%. All measures required to carry out the offering will be subject to the approval of Petrobras' internal bodies, specifically as to the price and actual percentage of the shares to be offered, as well as to the analysis and approval of the relevant regulatory entities, pursuant to the applicable legislation.

This release should not be considered as an offering notice and its execution will depend on favorable conditions in the domestic and international capital markets. This transaction is in line with the company’s portfolio optimization and improvement of capital allocation, aiming at generating value for our shareholders.

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

Acquisitions and Divestitures News in Brazil >>

Australia >>  9/18/2019 - Emperor Energy Limited (EMP) is pleased to advise it has entered into a sale and purchase agreement to sell its offshore Retention Lease, Cryano R3. ...
Morocco >>  9/18/2019 - Europa Oil & Gas (Holdings) plc is pleased to announce that it has been awarded a new Exploration Permit (‘Inezgane Offshore Permit’ or ‘the Licence’)...

Iran >>  9/15/2019 - In the course of the ceremony held for concluding the contract for development of Balaal Gas Field, the Managing Director of Petropars Group stated, “...
Somalia >>  9/13/2019 - Sterling Energy has announced that the Government of the Republic of Somaliland has granted a continued extension to the current period of the Odewayn...

Brazil >>  9/12/2019 - GeoPark has announced the expansion of its portfolio with four new exploration blocks in the Reconcavo and Potiguar basins in Brazil. ...
Indonesia >>  9/12/2019 - Lion Energy previously announced on December 12, 2018 that it entered into a conditional sale and purchase agreement ('SPA') with Gulf Petroleum Inves...

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 | 21 |

More News

Related Links

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