(Petrobras, 19.Nov.2019) — Petrobras, following up on the press release of November 7, 2019, reports that it has signed today with Copagaz and Nacional Gás Butano a contract for sale of all its stake in Liquigás Distribuidora S.A.
The sale price is R$ 3.7 billion, to be adjusted according to contract rules and paid upon transaction closing. As part of the transaction structuring, a minority and material equity investment will be made by Itaúsa in Copagaz.
The transaction closing is subject to compliance with precedent conditions, including approval by the Administrative Council for Economic Defense (CADE).
The operation complies with Petrobras’ divestment guidelines and with the special regime of asset divestment by federal mixed-capital companies, provided for in Decree 9,188/2017.
This transaction is in line with the portfolio optimization and the improvement of the company’s capital allocation, aiming at creating value for our shareholders.
About Liquigás
Liquigás is a wholly owned subsidiary of Petrobras and operates in bottling, distribution and sale of liquefied petroleum gas (LPG) in Brazil. The company is present in almost all Brazilian states, and has 23 operating centers, 19 warehouses, a railroad storage and loading base and a network of about 4,800 authorized resellers, with a 21.4% market share approximately.
About Copagaz, Nacional Gás Butano and Itaúsa
Copagaz, established in 1955, sells about 620,000 tons of LPG per year, standing out as the fifth largest LPG company in Brazil. The company has over 1,800 direct employees and a network of 2,700 resellers. The company distributes LPG to about 1,800 cities located in 18 Brazilian states and the Federal District.
Nacional Gás Butano is the energy company of Edson Queiroz Group that has been operating for 68 years in the distribution of LPG nationwide, standing out as an important LPG company in Brazil. The company serves about 7.5 million households on a monthly basis and about 17,000 companies through a network of 44 branches and 3,500 resellers.
Itaúsa is a Brazilian investment holding, publicly traded company, with over 40 years of experience. The company invests in industries relevant to the economy – financial, consumer goods and infrastructure – and has a consistent portfolio of leading brands in their markets in more than 50 countries.
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