Petrobras Starts Binding Phase of Thermoelectric Plants

Source: www.gulfoilandgas.com 8/14/2020, Location: South America

Petrobras, in continuation of the communique released on 06/15/2020, informs the beginning of the binding phase regarding the sale of four thermoelectric plants, three of which are located in Camacari, in the state of Bahia and run on fuel oil (Polo Camacari TPP), and a biofuel (diesel or natural gas) located in Canoas, in the state of Rio Grande do Sul (UTE Canoas).

Those qualified for the binding phase will receive an invitation letter with detailed instructions on the divestment process, including guidelines for carrying out due diligence and for sending binding proposals.

This disclosure is in accordance with Petrobras' divestment guidelines and the special asset divestment regime by federal mixed capital companies, provided for in Decree 9.188 / 2017.

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


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