(Petrobras, 27.Dec.2019) — Petrobras, following up on the release disclosed on 20 December 2019, announced its wholly owned subsidiary, Petrobras Biocombustível S.A. (PBio), signed a contract for the sale of its 6.07% stake in Bioóleo Industrial e Comercial S.A. (Bioóleo) to 2H Participações Societárias EIRELI, which holds the other 93.93% stake in the company.
PBio exercised the put option on its shares issued by Bioóleo, provided for in the termination provision of the Bioóleo Shareholders’ Agreement, in the amount of R$ 102,200.00 (one hundred and two thousand, two hundred reais). The transaction was closed together with the signing of the contract for purchase and sale of shares, which enabled the immediate withdrawal from Bioóleo’s shareholding capital.
This transaction is in line with Petrobras’ portfolio optimization and better capital allocation, aimed at generating value for our shareholders.
Bioóleo operates in two distinct business segments: (i) grain crushing – focused on the purchase of castor beans, production and sale of castor oil and castor bean cake; and (ii) refining of vegetable oils – focused on the production of semi-refined cotton and soybean oil.