PBio Completes Sale Of BSBios Shares

(Petrobras, 18.Dec.2020) — Petrobras, following up on the press release disclosed on 27 April 2020, informs that its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBio), as part of the competitive process, has concluded the negotiation phase with the company RP Participações em Biocombustíveis S.A. for the sale of all its shares (50%) issued by BSBios Indústria e Comércio de Biodiesel Sul Brasil S/A (BSBios).

The Executive Board of PBio approved the forwarding of the matter for deliberation of Petrobras’ competent bodies. The transaction is still subject to the approval of PBio Shareholders General Meeting and to compliance with other usual precedent conditions.

The value attributed to 100% of BSBios shares is R$1.235bn on the base date of 30 November. With the net debt deductions and other price adjustments, the net value to be received by PBio (50% of BSBios) will be around R$319mn, if the transaction is approved.

Petrobras reinforces its commitment to the broad transparency of its divestment projects and portfolio management and informs that the subsequent steps will be disclosed to the market according to the company’s and PBio’s Divestment Methodology and Decree 9.188/2017.

About BSBios

BSBios owns two biodiesel plants:

i) Passo Fundo biodiesel plant, located in the state of Rio Grande do Sul, with a production capacity of 414,000 m³/year, a crushing capacity of 1,152,000 tons/year and a storage capacity of 120,000 tons of grains, 60 thousand tons of bran and 7,500 m³ of biodiesel; and 

ii) Marialva biodiesel plant, located in the state of Paraná, with a production capacity of 414,000 m³/year and a storage capacity of 3,000 m³ of vegetable oil, 1,500 m³ of animal fat and 4,500 m³ of biodiesel.