Petrobras Starts Binding Phase For Uruguay Assets

(Petrobras, 4.Feb.2020) — Petrobras, following up on the press release disclosed on 17 February 2020, informs the beginning of the binding phase related to the sale of 100% of the shares held by Petrobras Uruguay Sociedad Anónima de Inversiones (PUSAI), a subsidiary of Petrobras, in Petrobras Uruguay Distribuición S.A. (PUDSA). 

Potential buyers qualified for this phase will receive a process letter with detailed instructions on the divestment process, including guidelines for due diligence and submission of binding proposals.

This disclosure to the market is in accordance with the guidelines for the Petrobras’ divestments. 

Related Story: Petrobras Discloses Teaser For Uruguayan Assets

This transaction is in line with the company’s portfolio optimization and improvement of capital allocation, aiming at creating value for our shareholders.

About the assets in Uruguay

In Uruguay, Petrobras operates, through PUDSA, in the fuel and lubricant distribution market, with an asset portfolio that includes a network of 90 service stations, 16 convenience stores, a lubricant logistics terminal, and a jet fuel plant, being the second largest fuel distributor in the country. It also operates in the distribution of liquid fertilizers through two logistics storage terminals, being the largest trader in the country. Regarding the logistics, it also has multiple delivery points located in the main public seaports of the country. 

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