Gulf Oil and Gas accountACCOUNT

Petrobras on Sale of Assets in Colombia

Source: www.gulfoilandgas.com 5/21/2020, Location: South America

Petrobras, following up on the press release disclosed on 03/06/20, informs that the non-binding phase related to the sale of 100% of the shares held by Petrobras International Braspetro B.V. (PIB BV) and other Petrobras subsidiaries, in Petrobras Colombia Combustibles (PECOCO) is underway, as described in the teaser, with expectation of the beginning of the binding phase in the next weeks.

Potential buyers qualified for this phase have received a descriptive memorandum with more detailed information about the aforementioned assets, as well as instructions on the divestment process, including guidelines for preparing and submitting non-binding proposals.

The main subsequent stages of the project will be reported to the market in due course.

This disclosure is in accordance with Petrobras' divestment guidelines.

This transaction is in line with the portfolio optimization and the improvement of the company’s capital allocation, aiming at maximizing value for its shareholders.

About the assets in Colombia
In Colombia, Petrobras operates, through PECOCO, in the gasoline, diesel, and lubricant distribution and trading market, through a network of 124 service stations and 7 storage units, one of which is in Puente Aranda.

Mergers and Acquisitions News in Colombia >>

Brazil >>  7/10/2020 - Petrobras, in continuation of the communique released on May 15, 2020, informs the beginning of the binding phase regarding the sale of its entire 51%...
Australia >>  7/9/2020 - Worley has acquired Ferrovial’s 50% shareholding of TW Power Services Pty Ltd (TWPS) for a cash consideration of $20 million, increasing its stake to ...

United States >>  7/9/2020 - UGI Corporation announced that its subsidiary, UGI Energy Services, LLC, acquired GHI Energy, LLC (“GHI”), a Houston-based renewable natural gas compa...
United Kingdom >>  7/6/2020 - Summary
- The boards of directors of Viaro Energy and RockRose are pleased to announce that they have reached agreement on the terms of a recomm...


United States >>  7/5/2020 -  Berkshire Hathaway Energy, a subsidiary of Warren Buffett’s Berkshire Hathaway Inc., today announced it has executed a definitive agreement to acquir...
Brazil >>  7/3/2020 - Petrobras, in continuation of the communique released on May 15, 2020, informs the beginning of the binding phase regarding the sale of its remaining ...




Colombia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.