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Sale of Assets in Paraguay

Source: www.gulfoilandgas.com 7/7/2017, Location: Not categorized

Petrobras informs that it has initiated the disclosure phase of the Teaser for the sale of its assets in Paraguay. The company’s objective in this project is to sell its full equity stake in the following companies: Petrobras Paraguay Distribuci?n Limited (PPDL UK), Petrobras Paraguay Operaciones y Log?stica SRL (PPOL), and Petrobras Paraguay Gas SRL (PPG).

In Paraguay, Petrobras, through the companies listed above, operates in the segments of distribution and trading of fuels, LPG and lubricants, and has a network of 197 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.

Besides the Teaser, the main subsequent phases of each divestment project will be disclosed, as detailed 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 signature of contracts; - Closing.

The 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 Uniao).

This material is being provided pursuant to Brazilian regulatory requirements, 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 hyperlink resulting from this URL, is not and shall not be deemed part of this report on Form 6-K.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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