Petrobras Announces Sale of slice of Argentine company

On Monday (6), Petrobras initiated the stage of disclosure of Opportunity (Teaser) on the full sale of its share of 34% in participation in Argentina MEGA (Compañía MEGA S. A) through its wholly-owned subsidiary Petrobras International Braspetro B.v. (GDP BV). The announcement is part of the state's Deinvestment program.

The company's other shareholder companies are Repsol S.A. (38%) And the Dow Chemical Company (28%). Argentina MEGA processes natural gas and fractes its propane, butane, ethane and natural gasoline liquids.

The company has a natural gas processing plant with capacity to process more than 40 million m³ per day and another of natural gas liquids with fractionating capacity up to 5 million m³ per day.

"This operation is aligned with the optimization of the portfolio and the improvement of the company's capital allocation, aiming at generating value for our shareholders," Petrobras said in a statement.

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