After the decision of the Administrative Council of Economic Defense (Cade) veto the sale of Liquigas to Ultragaz, Petrobras decided to sell its gas distributor directly on the stock exchange. The information is included in this Friday's edition of Folha de S. Paulo.
Currently, the state owns 100% of the company's capital and evaluates the opening of capital by means of a secondary public offer of the shares. According to the publication, the decision was taken by the Petrobras council after conversations with investors indicated that it was possible to raise more than the R $2.8 billion offered by the Ultra group.
The opening of capital should be gradual, as there is a possibility for more aggressive investors to acquire more than 50% of the shares in an offer. With this, the secondary emissions of actions should be done in stages. Emissions may not be primary because, in cases like this, the money from the sale is in the company and not with the controller.
The newspaper also says that the possibility of a strategic partner acquiring a minority participation before the IPO is not ruled out. If it is confirmed, it will be a similar process to what happened to the BR Distributor (BRDT3) at the end of last year. The sale of 28.75% of the company's capital yielded R $5 billion. Source: Money Times
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