Petrobras Starts Binding Phase of Deten Quimica SA

Source: www.gulfoilandgas.com 9/16/2021, Location: South America

Petrobras, in continuity with the communication of 06/28/2021, informs that it has concluded the non-binding phase started on 07/08/2021 regarding the sale of its entire 27.88% shareholding in Deten Química SA (Deten), located in the industrial hub of Camaçari, in the state of Bahia. The company is starting today the binding phase of the project.

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

This disclosure 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.

About Deten

Deten manufactures and markets the main raw materials for the production of biodegradable liquid and powder detergents. It is the only national producer of Linear Alkylbenzene (LAB), precursor of Linear Alkylbenzene Sulfonate (LABSA), of which it is also a manufacturer. It also produces Heavy Alkyd (ALP), used in lubricating additives and textile oil.


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