Rio de Janeiro, May 3, 2016 – Petróleo Brasileiro S.A. – Petrobras, in reference to the Material Facts disclosed on 01.20.2016, 03.02.2016 and 04.08.2016, informs that concluded the negotiations with Pampa Energía of the main terms and conditions for the sale of its entire stake in Petrobras Argentina (PESA), owned through Petrobras Participaciones S.L. (“PPSL”).
Pampa Energía, a public traded company, is an integrated energy company in Argentina, with business in the oil and gas sector as well as on the generation, transmission and distribution of electric energy.
The transaction includes the sale of 67.19% stake in PESA, the retention by Petrobras of 33.6% of the Rio Neuquen concession – areas with high natural gas production potential in the Neuquén Basin, in Argentina – and 100% of the Colpa Caranda asset – natural gas producing fields in Bolivia. The base price of the deal is USD 892 million, corresponding to USD 1.327 billion for 100% of PESA.
This transaction, carried out through a competitive process, is part of the Divestment Program envisaged in the Business and Management Plan 2015-2019 and its conclusion is subject to the deliberation and approval of its final terms and conditions by the Executive Board and Board of Directors of Petrobras, as well as the appropriate regulatory agencies.