Petrobras announces details for the sale of its assets in Paraguay.
Petrobras aims is to sell its entire stake in the following companies: Petrobras Paraguay Distribución Limited (PPDL UK), Petrobras Paraguay Operaciones y Logística SRL (PPOL), and Petrobras Paraguay Gas SRL (PPG).
In Paraguay, Petrobras, through the companies listed above, operates in the segments of fuel distribution and trading, LPG and lubricants, and has a network of 197 fuel service stations and 113 convenience stores. It is also present in the aviation sector—with operations in three airports—and in the large customers segment ("B2B"), being the largest fuel distributor in the country. In terms of logistics, it owns a distribution terminal, in the city of Villa Elisa.
The Teaser containing key information about the opportunity, as well as the objective criteria for the selection of prospective purchasers is available on the Petrobras. Besides the Teaser, the main subsequent phases of each divestment project will be disclosed, as shown below:
- Start of the non-binding phase (if applicable);
- Start of the binding phase;
- Concession of exclusive negotiation (if applicable);
- Transaction approval by Senior Management (Executive Board and Board of Directors) and the signature of contracts;
Disclosure to the market, herein, is in compliance with Petrobras' divestment methodology, which was reviewed and approved by our Executive Board, and is aligned with the guidelines of the Federal Accounting Court (TCU – Tribunal de Contas da União).
This material is provided pursuant to Brazilian regulatory requirements. It does not constitute an offering, under the U.S. securities laws, and is not a solicitation, invitation or offer to buy or sell any securities. The information on our website, which is accessible through this URL, is not and shall not be deemed part of this report on Form 6-K. PWKD10072017