Petrobras

Liquigás sale process: Extension of the analysis period by CADE

Rio de Janeiro, November 22, 2017 – Petróleo Brasileiro S.A. – Petrobras, persuant to the press releases disclosed on 06/30/2017 and 08/28/2017, related to the analysis of the sale of Liquigás Distribuidora SA, a wholly owned subsidiary of Petrobras, to Companhia Ultragaz SA, informs that the Administrative Council for Economic Defense (“CADE”) extended the period of analysis of the transaction for a further 90 days, pursuant to article 88, §9º, I & II of Law 12.529/2011.

Considering the granting of the additional period, the proceeding should be terminated until March 5, 2018.

The CADE Court is not obliged to use the entire legal deadline for analysis, and may issue its decision before the deadline mentioned above.

The company will keep the market informed of any relevant decision

Categories: Petrobras

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s