Petrobras puts Liquigás back on sale

Petrobras once again hired a bank to try to sell Liquigás Distribuidora S.A. According to sources, the Spanish Santander took the task, and the expectation is that investors start to receive the campaign materials for sale. The supply of the gas distributor to the market is part of the oil disinvestment plan.

Since 2016 Petrobras has been attempting to destatise the subsidiary. From there, some interested parties appeared, such as the Ultra Group, Supergasbras and Copagaz. The Ultra Group led Liquigás for R $2.8 billion in November of the same year. However, at the beginning of 2018, the Administrative Council for Economic Defense (Cade) veted the purchase.

The new sales strategy adopted by Petrobras would be focused on foreign buyers, in order to avoid similar impediments in the process of denationalization. Now, offered again to the market, groups from Turkey, China and France would be interested in the Distributor, as well as large investment funds. This time, the estimate is that the values for the acquisition of the subsidiary exceed the R $2.8 billion that the Ultra Group would pay or three years ago.

Whether It is a national or a foreign buyer, it is notorious that Petrobras ' disinvestment plan continues at an accelerated pace and that, through the policies adopted by the State, the company loses its monopoly on the Brazilian economy.

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