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RIO DE JANEIRO, June 27, 2018 / PRNewswire / – Petrobras' Board of Directors yesterday approved (26) the full sale of the participation of the Brazilian state-owned company in oil derivatives distributors in Brazil. Paraguay. The transaction involves the participation of the Brazilian state-owned company Petrobras Paraguay Distribución Limited (PPDL UK), Petrobras Paraguay Operaciones y Logistic Srl (PPOL) and Petrobras Paraguay Gas SRL (PPG) for the Copetrol Group
the companies that are sold operate in Paraguay on the market for the distribution and marketing of fuels, LPG, lubricants and other special products through a network of 197 service stations, as well as an own storage terminal and at three airports "
" The estimated cashing of the sale is 383.5 million US dollars (about 1.45 billion reais), of which 49.3 million US dollars are paid for signing, as an escrow account, and $ 334.2 million at the closing date of the transaction, including approximately $ 55 million in cash from the companies.
The note states that the value of the sale remains subject to adjustments "due to changes in working capital up to the closing of the transaction". The conclusion of the transaction is subject to the approval procedures according to the norms and laws of Paraguay.
The state company said that "the operation is part of the Petrobras Partnerships and Divestments program, in line with the Business Plan and Management 2018-2022, which provides for the optimization of portfolio of the company. "
Source: Agência Brasil – Empresa Brasil de Comunicação S / A – EBC
