Petrobras reports beginning of the non-binding phase for the downstream and logistics assets sale in Brazil

Rio de Janeiro, July 15, 2019 – Petróleo Brasileiro SA – Petrobras, following up on the release dated 06/28/2019, announces the beginning of the non-binding phase related to the first phase of the sale of assets in downstream and associated logistics in Brazil, which includes the refineries Abreu e Lima (RNEST) in Pernambuco, Landulpho Alves (RLAM) in Bahia, Presidente Getúlio Vargas (REPAR) in Paraná, and Alberto Pasqualini (REFAP) in Rio Grande do Sul.
Potential buyers qualified for this phase will receive a descriptive memorandum with more detailed information about the aforementioned assets, as well as instructions on the divestment process, including guidelines for preparing and submitting non-binding proposals.
This disclosure to the market is in line with Petrobras’ divestment methodology, which is in line with the special regime for the divestment of assets by federal mixed-capital companies, provided for in Decree 9,188/2017.
Downstream divestments are aligned with the portfolio optimization and the company’s capital allocation improvement, aiming to maximize value for our shareholders.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.