Petrobras Signs Contract for the Sale of Breitener Energetica SA

Source: www.gulfoilandgas.com 8/27/2021, Location: South America

Petrobras, informs that it signed a contract for the sale of its entire 93.7% shareholding in the company Breitener Energetica SA (Breitener), located in the state of Amazonas, to Breitener Holding Participacoes SA, a wholly owned subsidiary of Ceiba Energy LP.

The sale value is R$304 million, of which R$251 million will be paid at its closing, subject to the adjustments provided for in the contract, and R$53 million in contingent payment, linked to Breitener's future remuneration on the sale of energy.

The closing of the transaction is subject to the fulfillment of conditions precedent, such as the approval of the Administrative Council for Economic Defense (CADE).

This disclosure to the market is in accordance with Petrobras' internal rules and with the special regime for divestment of assets by federal mixed capital companies, provided for in Decree 9,188/2017.

This operation is in line with the portfolio optimization strategy and the improvement in the company's capital allocation, aiming at maximizing value.


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