Petrobras on Wind Farm Sales

Source: www.gulfoilandgas.com 5/4/2020, Location: South America

Petrobras, following up on the press release disclosed on January 31 , 2020, announces the beginning of the binding phase regarding the sale of all of its shares in the companies Eolica Mangue Seco 1 and Eolica Mangue Seco 2, owners of wind farm generation plants.

The company also informs that the non-binding phase for the joint sale of all of its shares in Eolica Mangue Seco 3 and Eolica Mangue Seco 4 is in progress, as published in the teaser on 03/13/2020, with the expectation of beginning the binding phase in the coming weeks.

Qualified parties for the biding phase will receive a process letter with detailed instructions on the divestment process, including guidelines for due diligence and submission of binding proposals.

This disclosure is in accordance with the Petrobras’ divestment guidelines, which is aligned with the special regime of asset divestment by federal mixed-capital companies, provided for in Decree 9,188/2017.

These transactions are in line with the portfolio optimization and the improvement of company’s capital allocation, aiming at maximizing value for its shareholders.


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