Petrobras Starts Gaspetro’s Binding Phase

(Petrobras, 10.Jul.2020) — Petrobras, following up on the press release disclosed on 15 May 2020, announces the beginning of the binding phase regarding the sale of its entire 51% stake in Petrobras Gás S.A. (Gaspetro).

Qualified parties 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 complies with Petrobras’ divestment guidelines and 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 Petrobras’ capital allocation, aiming at maximizing value for its shareholders.

About Gaspetro

Gaspetro is a holding company with equity interests in several natural gas distribution companies, located in all regions of Brazil. In 2019, the total volume of gas distributed was 29 million m3/day, serving about 500 thousand customers through a distribution network of more than 10 thousand km of gas pipelines. 

Its corporate structure is formed by Petrobras, with 51% of the shares, and Mitsui Gás e Energia do Brasil Ltda., which holds the remaining 49% of the shares.

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