Sale of BR Distribuidora will have to start from scratch

As can be read here previously in Panorama Offshore, the Court of the Union, released Petrobras to resume the sale of its assets, which meant that the company could continue its divestment project. With the authorization, the state now intends to complete the process of selling its stake in BR Distribuidora.

However, by determining the TCU, the process will have to start zero, starting with the approval of the executive board of Petrobras. According to Panorama reported, the Court's decision includes some changes, including more corporate control in the sales process, ie the beginning of each relevant transaction stage the approval of the executive board of the oil will be required.

But, according to Pedro Parente, President of the State, this should not be a lengthy process and after sent the prospectus on the sale of BR Distribuidora the list of interested parties, the information will be published on notice so that other potential buyers can enter the contest.

The sale of Petrobras' stake in BR Distribuidora had process started in October 2016, however, a precautionary measure in the TCU, the sale of company assets was suspended, only being released this month of March, with the determination that the state restart all businesses whose purchase and sale contracts have not been signed.

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