Petrobras and Gaspetro Complete Exit from Gasmar

Source: www.gulfoilandgas.com 2/15/2022, Location: South America

Petrobras, following up on the statement released on 04/09/21, informs that, together with its subsidiary Petrobras Gás SA (Gaspetro), the transaction to finalize the pending legal dispute with Termogás SA (Termogás). As a result of this transaction, Termogás acquired the shares of Companhia Maranhense de Gás (Gasmar) held by Gaspetro, which corresponds to 23.5% of the total capital stock.

After the fulfillment of all the conditions precedent, the operation was concluded with the payment of R$ 56.9 million to Gaspetro, already with the adjustments foreseen in the contract.

The transaction is part of Gaspetro's portfolio optimization strategy and is in line with the Cessation Commitment Term (TCC) for the natural gas market signed with CADE, in July 2019, to promote competition in this sector in Brazil.

Petrobras is conducting the divestment process of its interest in Gaspetro, as announced to the market on 02/27/2020, 05/15/2020, 07/10/2020, 12/30/2020, and 07/28/2021, and this transaction does not change the conditions agreed between Petrobras and Compass Gás e Energia for the sale of Gaspetro shares.


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