Petrobras on non-binding phase of assets in Uruguay

Jan 17, 2020

Petrobras, following up on the press release disclosed on 11/12/2019, related to the sale of 100% of the shares held by Petrobras Uruguay Sociedad Anónima de Inversiones (PUSAI) – a subsidiary of Petrobras – in Petrobras Uruguay Distribuición S.A. (PUDSA), informs that the project´s non-binding phase is underway, as described in the teaser, with expectation of the beginning of the binding phase in the next weeks.

Potential buyers qualified for this phase have already received a descriptive memorandum with more detailed information about the aforementioned company, as well as instructions on the divestment process, including guidelines for preparing and submitting non-binding proposals.

This disclosure is in line with the Petrobras’ Divestment Methodology.

This transaction is in line with the portfolio optimization and the improvement of Petrobras’ capital allocation, aiming at maximizing value for its shareholders.

About the assets in Uruguay

In Uruguay, Petrobras operates, through PUDSA, in the fuel and lubricant distribution market, with an asset portfolio that includes a network of 90 service stations, 16 convenience stores, a lubricant logistics terminal, and a jet fuel plant, being the second largest fuel distributor in the country.  It also operates in the distribution of liquid fertilizers through two logistics storage terminals, being the largest trader in the country. Regarding the logistics, it also has multiple delivery points located in the main public seaports of the country.

Leave a Reply

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