Petrobras Concludes Ibiritermo S.A. Acquisition

(Energy Analytics Institute, 18.Aug.2022) — Petrobras finalized the acquisition of Edison S.p.A.‘s 50% stake in Ibiritermo S.A. while the transfer of Usina Termelétrica Ibirité to Petrobras has been carried out.

Petrobras now holds 100% of the shares of Ibiritermo and has exclusive ownership of UTE Ibirité, the Rio de Janeiro-based company announced 18 August 2022 in an official statement.

With the conclusion of the transition, Petrobras can commence the necessary measures for the closure of the Ibiritermo by liquidation.

The transaction is in compliance with the Energy Conversion Contract (ECC) signed on 21 June 2002 with Ibiritermo, and aligns with the oil giant’s strategy of portfolio optimization and capital allocation improvement, aiming at value maximization and greater return to society, the company added.

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By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.