Petrobras Concludes the Sale of BSBios

Source: www.gulfoilandgas.com 2/9/2021, Location: South America

Petrobras following up on the release disclosed on December 23, 2020, informs that its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBio) completed today 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) to the company RP Participações em Biocombustíveis S.A.

After fulfilling all the precedent conditions, the transaction was concluded with the payment of R$ 253 million to PBio already with the adjustments foreseen in the contract. In addition to this amount, R$ 67 million are kept in a linked account (escrow) for the indemnification of eventual contingencies and released according to the terms and conditions established in the contract, and R$ 2 million were received in advance in the form of interest on equity in December 2020, totaling the amount of the transaction at R$ 322 million.

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, aiming the maximization of value for its shareholders.

About BSBios

BSBios owns two biodiesel plants:
(i) biodiesel plant of Passo Fundo, located in the state of Rio Grande do Sul, with a production capacity of 414 thousand m³/year, a crushing capacity of 1,152 thousand tons/year and a storage capacity of 120 thousand tons of grains, 60 thousand tons of bran and 7.5 thousand m³ of biodiesel; and
(ii) Marialva biodiesel plant, located in the state of Paraná, with a production capacity of 414 thousand m³/year and storage capacity of 3 thousand m³ of vegetable oil, 1.5 thousand m³ of animal fat and 4.5 thousand m³ of biodiesel.

About RP Participações em Biocombustíveis S.A.
Founded in 2011, RP Participações em Biocombustíveis S.A. is a company controlled by ECB Group and its main activity is to participate and invest in companies that produce and sell biofuels. Its main investment is the shareholding in BSBios.


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