Petrobras informs about tag-along exercise on stake in electricity sector company

Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on December 15, 2023, informs that it has decided to exercise the tag-along right (joint sale) for the sale of its 18.8% stake in the share capital of UEG Araucária S.A. (UEGA).

The value of the transaction relating to Petrobras’ stake in UEGA is R$ 67.3 million, of which R$ 13.5 million was paid at the time of signing and R$ 53.8 million paid at the closing of the transaction, subject to the adjustments provided for in the contract.

This exercise will be carried out by Petrobras, as the seller, adhering to the Share Purchase Agreement signed by COPEL and COPEL GET, Petrobras’ partners in UEGA, for the sale of their respective shareholdings to Ambar Energia S.A. The conclusion of the transaction is subject to the fulfillment of precedent conditions, such as the approval of the Administrative Council for Economic Defense (CADE).

About UEGA – Usina Elétrica a Gás de Araucária

UEGA is a company owned by the Copel Group and Petrobras, whose asset is a natural gas-fired thermoelectric plant (combined cycle, with two gas turbines and one steam turbine) located in Araucária – PR, close to the Bolivia-Brazil gas pipeline (GASBOL). It began operating in 2002 and has a total installed capacity of 484 MW.