Rio de Janeiro, April 4, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it concluded today the sale transaction announced on September 23, 2016, of 90% of the company’s shares in Nova Transportadora do Sudeste (“NTS”) to Nova Infraestrutura Fundo de Investimentos em Participações (“FIP”), managed by Brookfield Brasil Asset Management Investmentos Ltda, an entity affiliated with Brookfield Asset Management.
The operation was completed upon payment today of US$ 4.23 billion, after all precedent conditions and adjustments provided for in the purchase and sale agreement were fulfilled. The total amount received by Petrobras consists of US$ 2.59 billion for the sale of shares and US$ 1.64 billion for the debentures convertible in shares issued by NTS, maturing in 10 years, for substitution of a debt to Petrobras Global Trading B.V. (“PGT”), a wholly-owned subsidiary of Petrobras. The remaining balance (US$ 850 million, also referring to the sale of shares) will be paid in five years, and adjusted over the period.
Petrobras will continue to use NTS’ natural gas transport facilities, through current gas transport contracts, with no impact on its operations neither on the delivery of gas to distributors and other customers.
Transpetro will remain in charge of the operation and maintenance of assets through a new service agreement signed with NTS today, with a ten years term.
Petrobras further informs that after closing this transaction, FIP executed the sale of part of its shares in NTS to Itaúsa – Investimentos Itaú S.A. (“Itaúsa”), under the same commercial conditions as the transaction between Petrobras and FIP.
With the completion of the two transactions today, NTS now has the following ownership structure:
• FIP: 82.35%
• Petrobras: 10%
• Itaúsa: 7.65%
The Board of Directors of NTS will consist of seven members nominated by FIP, two nominated by Petrobras, and one nominated by Itaúsa.
The transaction is part of the Partnership and Divestiment Program, which totaled US$ 13.6 billion in the 2015-2016 biennium. The sale is in line with the company’s Strategic Plan/2017-21 Business and Management Plan, which provides for participation in the oil and gas supply chain through partnerships. In addition, the transaction opens opportunities for partnerships with other companies to contribute to strengthening the natural gas industry in Brazil, fostering (encouraging) new investments in the expansion of gas transport infrastructure.