Petrobras Signs Contract for Sale of BSBios

Source: www.gulfoilandgas.com 12/23/2020, Location: South America

Petrobras, following up on the press release disclosed on December 18, 2020, informs that its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBio) signed today with the company RP Participações em Biocombustíveis S.A. a contract for the sale of all its shares (50% of the company's capital) issued by BSBios Indústria e Comércio de Biodiesel Sul Brasil S/A (BSBios).

The amount of R$ 322 million, including monetary correction adjustment, will be deposited in an escrow account for PBio's stake in BSBios, and is subject to usual adjustments for transactions of this nature. From the total amount, R$ 255 million will be withdrawn by PBio when the transaction is closed and R$ 67 million will be kept in the escrow account for compensation of eventual contingencies and will be released according to terms and conditions foreseen in the contract.

The closing of the transaction is subject to compliance with the usual previous conditions.

This disclosure is in accordance with Petrobras' and PBio´s internal rules and Decree 9,188/2017.

This operation is aligned with the strategy of portfolio optimization and the improvement of the company's capital allocation, concentrating increasingly its resources on world-class assets in deep and ultra-deep waters, where Petrobras has shown great competitive edge over the years.


Denmark >>  6/27/2022 - As the global leader in wind energy, Vestas plays a leading role in providing the solutions and services needed to accelerate the energy transition. T...
United States >>  6/27/2022 - Primoris Services Corporation has entered into a definitive merger agreement to acquire PLH Group, Inc. (“PLH Group” or “PLH”) in an all-cash transact...

Australia >>  6/23/2022 - It was announced that MMA Offshore Limited has entered into an agreement to acquire Subcon International Pty Ltd through the acquisition of 100% of Su...
Denmark >>  6/23/2022 - Noble Corporation (NE) ("Noble") and The Drilling Company of 1972 A/S (DRLCO), collectively with Noble, the "Parties," provided an update on the ongoi...

Norway >>  6/22/2022 - Lundin Energy AB would like to remind shareholders that 23 June 2022 is the ex-dividend date in relation to the transaction with Aker BP. Therefore, 2...
United States >>  6/22/2022 - Atkore Inc. has acquired United Poly Systems, a manufacturer of High Density Polyethylene (HDPE) pressure pipe and conduit, primarily serving telecom,...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.