Petrobras on Tag-along Exercise on Stake in UEGA

Instant Max AI Immediate Frontier

(Petrobras, 23.Feb.2024) — Petrobras, following up on the release disclosed on 15 Dec. 2023, has decided to exercise the tag-along right (joint sale) for the sale of its 18.8% stake in the share capital of UEG Araucária S.A. (UEGA).

The value of the transaction relating to Petrobras’ stake in UEGA is R$ 67.3mn, of which R$ 13.5mn was paid at the time of signing and R$ 53.8mn paid at the closing of the transaction, subject to the adjustments provided for in the contract.

This exercise will be carried out by Petrobras, as the seller, adhering to the Share Purchase Agreement signed by COPEL and COPEL GET, Petrobras’ partners in UEGA, for the sale of their respective shareholdings to Ambar Energia S.A. The conclusion of the transaction is subject to the fulfillment of precedent conditions, such as the approval of the Administrative Council for Economic Defense (CADE).

About UEGA – Usina Elétrica a Gás de Araucária

UEGA is a company owned by the Copel Group and Petrobras, whose asset is a natural gas-fired thermoelectric plant (combined cycle, with two gas turbines and one steam turbine) located in Araucária – PR, close to the Bolivia-Brazil gas pipeline (GASBOL). It began operating in 2002 and has a total installed capacity of 484 MW.


Previous post Concacaf and Aramco Ink Multi-year Partnership
Next post IMF Fingerprinting Indicates Bunker Fuel Offshore Tobago