Gulf Oil and Gas accountACCOUNT

Petrobras on Sale of Petrobras Biocombustivel

Source: www.gulfoilandgas.com 8/3/2020, Location: South America

Petrobras, following up on the press release disclosed on July 3, 2020, informs the beginning of the non-binding phase regarding the sale of its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBIO). Qualified parties for this phase will receive a process letter with detailed information about the aforementioned company, as well as instructions on the divestment process, including guidelines for preparing and submitting non-binding proposals.

This disclosure complies with Petrobras' divestment guidelines and the special regime of asset divestment by federal mixed capital companies, provided for in Decree 9,188/2017.

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

About PBIO
PBIO was founded in 2008 and is one of the largest producers of biodiesel in the country with 5.5% of market share in 2019. It has three biodiesel plants located in: (a) Montes Claros, in the state of Minas Gerais, with a production capacity of 167,000 m3/year; (b) Candeias, in the state of Bahia, with a production capacity of 304,000 m3/year, and (c) Quixadá, in the state of Ceará, mothballed, with a production capacity of 109,000 m3/year.

The three plants are capable of using a mixture of up to 5 different raw materials (soy, cotton and palm oil, animal fat and waste oils) to produce biodiesel, capturing advantages of seasonal price dynamics.

This transaction consists of the sale of 100% of Petrobras' shares in PBIO, including the three biodiesel plants, and does not include the sale of PBIO's stake in BSBios Indústria e Comércio de Biodiesel Sul Brasil S.A. (50.0%). As disclosed to the market, on July 10, 2020, PBIO concluded the sale of its 8.4% stake in the company Bambuí Bioenergia S.A. to Turdus Participações S.A.

Acquisitions and Divestitures News in Brazil >>

Norway >>  9/21/2020 - PGNiG Upstream Norway has signed an agreement with A/S Norske Shell to acquire interests in Kvitebjørn and Valemon, two producing fields in the North ...
South Africa >>  9/21/2020 - Africa Energy Corp. announces that a Special Meeting of Shareholders (the “Special Meeting”) will be held in Canada on Thursday, October 15, 2020 at 9...

Gambia >>  9/19/2020 - PetroNor, the independent oil and gas exploration and production company with a focus on production, development and exploration assets across sub-Sah...
Brazil >>  9/17/2020 - Petrobras, informs that it has started the opportunity disclosure stage (teaser), referring to the sale of all its shares in the company Araucária Nit...

United Kingdom >>  9/16/2020 - IGas Energy has entered into a share purchase agreement ('SPA') to acquire GT Energy UK, a developer of deep geothermal heat projects onshore in the U...
Australia >>  9/15/2020 - Further to the previous announcement of 15 June 2020, Armour Energy has advised that agreement has been reached with Oilex to defer the date for the s...




Brazil Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 |

More News

Related Links

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