Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on July 3, 2020, informs that the company’s Board of Directors, at a meeting held today, approved the sale of its remaining 10% stake in Nova Transportadora do Sudeste S.A. (NTS) to Nova Infraestrutura Gasodutos Participações S.A., a company formed by Nova Infraestrutura Fundo de Investimentos em Participações Multiestratégia (FIP), an investment fund managed by Brookfield Brasil Asset Management Investimentos Ltda. and Itaúsa S.A., the current controlling shareholders of NTS. The signing of the purchase and sale agreement and the closing of the transaction will take place simultaneously in the next few days.
The value of the transaction is R$1.8 billion. Considering the discount of dividends, interest on equity and restitution through capital reduction received by Petrobras throughout 2020 and 2021 and the other adjustments provided for in the contract as per the base date, it is estimated that the cash inflow is R$ 1.5 billion, to be paid in full on the date of the signing and closing of the transaction.
This disclosure complies with Petrobras’ divestment guidelines and the special regime of assets divestment by federal mixed capital companies, provided for in Decree 9,188/2017.
This operation is aligned with the Term of Cessation Commitment (TCC) signed with CADE in July 2019 to promote competition in the sector of natural gas in Brazil, as well as to the strategy of portfolio optimization and improvement of the Company’s capital allocation, aiming at maximizing value for our shareholders.
NTS is a company that operates in the natural gas transportation sector, currently holding long-term authorizations to operate and manage a pipeline system of about 2,000 km and with capacity to transport 158.2 million m³/d of natural gas.
The NTS pipelines are located in the states of Rio de Janeiro, Minas Gerais and São Paulo (responsible for 50% of natural gas consumption in Brazil) and are connected to the Brasil-Bolivia pipeline, to the TAG transportation network, to the Baía de Guanabara LNG regasification terminal and to the processing plants of natural gas produced in the Campos Basin and in the Santos Basin pre-salt.
Currently, the other partners of NTS are FIP, an investment fund managed by Brookfield Brasil Asset Management Investimentos Ltda., with equity stake of 82.35% and Itaúsa with 7.65% equity stake.