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Petrobras Starts Gaspetro's Binding Phase

Source: www.gulfoilandgas.com 7/10/2020, Location: South America

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% stake in Petrobras Gas SA (“Gaspetro”).

Potential buyers classified for this phase will receive an invitation letter with detailed instructions on the divestment process, including guidelines for carrying out due diligence and sending binding proposals.

This disclosure is in accordance with Petrobras' divestment guidelines and the special asset divestment regime by federal mixed capital companies, provided for in Decree 9.188 / 2017.

This operation is in line with the strategy of optimizing the portfolio and improving the allocation of the company's capital, aiming at maximizing value for its shareholders.

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