(Petrobras, 26.Apr.2016) – Petrobras declared that the new injunction granted by the Rio Federal Court has not suspended the sale of 49 percent of its interest in Gaspetro, but determined that the buyer may not dispose of the shares acquired.
Petrobras is analyzing the appropriate legal measures in regard to this decision and, as announced on December 28, 2015, reiterates the divestment transaction was absolutely legal, having been entered into following all the necessary authorizations.
It is worth emphasizing that the sale of these shares was part of a competitive process carried out with the help of Itaú BBA Bank, in which several national and foreign companies took part, Mitsui having presented the best proposal. The operation had three fairness opinions issued by recognized financial institutions attesting that the transaction price was a fair one. It had also been approved by Petrobras’ Board of Directors.
The Gaspetro shares were transferred to Mitsui on December 28, 2015, upon payment of the contractually established amount.
The Bahia Federal Court injunction remains in effect, with appeals pending judgment.
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