The Board of Directors of Petrobras approved yesterday (26) The full sale of the Brazilian state's corporate participation in distributors of petroleum derivatives in Paraguay. The transaction involves the participation of the Brazilian state in the companies Petrobras Paraguay distribution Limited (PPDL UK), Petrobras Paraguay ops y Logística srl (PPOL) and Petrobras Paraguay Gas srl (PPG) for the Copetrl group.
According to the state to the market, the companies that are being sold operate in Paraguay in the market of distribution and commercialization of fuels, LPG, lubricants and other special products, through a network of 197 service stations, in addition to An own storage terminal and operations at three airports.
"The estimated cash entry with the sale is US $383.5 million (about R $1.45 billion), with us $49.3 million being paid in the act of signing, as an advance in the form of deposit in a escrow account, and US $334.2 million on the day of the closure of Transaction, including approximately US $55 million for the company cashier.
The note clarifies that the value of the sale is still subject to adjustments "due to changes in working capital until the closing of the operation". The conclusion of the transaction is subject to the procedures of approval according to the rules and laws of Paraguay.
The state states that "the operation is part of Petrobras ' partnership and de-Investment program, being aligned with the business plan and Management 2018-2022, which provides for the optimization of the company's portfolio." Source: Agricultural News.
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