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The Petrobras Board of Directors yesterday approved (26) the full sale of the participation of the Brazilian state-owned company in petroleum products distributors in 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.
According to a statement from the public company, the companies sold operate in Paraguay on the market for the distribution and sale of fuels, LPG, lubricants and other special products, through a network of 197 service stations, as well as in A storage terminal and operations in 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 at the time of signing, as a result of the sale. advance on escrow account, and $ 334.2 million on the closing day of the transaction, including approximately $ 55 million in cash.
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 Petrobras' partnership and divestment program, in line with the 2018-2022 business and management plan, which provides for the operation of the company. optimization of the company's portfolio.
Edition: Fernando Fraga
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