Petrobras Finalizes Sale Of Uruguayan Assets

(Petrobras, 5.Feb.2021) — Petrobras, following up on the release disclosed on 2 October 2020, informs that its indirect subsidiary Petrobras Uruguay Sociedad Anónima de Inversión (PUSAI), concluded today the sale of its entire stake in Petrobras Uruguay Distribución S.A. (PUDSA), in Uruguay, to Mauruguay S.A., an indirect wholly-owned subsidiary of Disa Corporación Petrolífera S.A. (DISA).

After fulfilling all the precedent conditions, the operation was concluded with the payment of $62mn to PUSAI, already with the adjustments provided for in the contract. The amount received at closing is added to the amount of $6.17mn paid to PUSAI on the date the sale contract was signed, on 2 October 2020, totaling $68.17mn.

This disclosure is in accordance with Petrobras’ internal divestment guidelines.

This operation is aligned with the strategy of portfolio optimization and the improvement of the company’s capital allocation, aiming at the maximization of value for its shareholders.

About the assets in Uruguay

In Uruguay, Petrobras operated, through PUDSA, in the fuel and lubricant distribution market, with a portfolio of assets that includes a network of 90 service stations, 88 of which are in operation, 16 convenience stores, a lubricant logistics terminal, an aviation kerosene plant and delivery of marine fuels to the main ports of the country, being the second largest fuel distributor in Uruguay. It also acted in the distribution of liquid fertilizers, through two logistic storage terminals, being the largest trader of liquid fertilizers in the country. 

About DISA

DISA Group is the largest independent fuel distribution operator in Spain, managing the fourth largest network of service stations in the country. It has a comprehensive portfolio of energy products and services, ranging from traditional fuels to the generation and sale of electricity from a 100% renewable source, where in the Canary Islands it is the leading private company in the market, as well as other alternative energies such as AutoGás and Natural Gas. 

DISA recently acquired the energy business of PRIO in Portugal, becoming the fourth Portuguese operator and starting its activity as a producer of biofuels.