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Petrobras on Gaspetro's Divestment

Source: www.gulfoilandgas.com 12/30/2020, Location: South America

Petrobras, following up on the release disclosed on November 30, 2020, regarding the divestment of Petrobras Gás S.A. (Gaspetro), informs that it received on 12/22/2020 a letter from the Administrative Council for Economic Defense (CADE) in which the agency attests that the continuation of the company Compass Gás Energia S.A. (Compass) in the process of sale of Gaspetro does not characterize non-compliance with the commitment agreement.

Thus, the company decided to readmit Compass to the divestment process, always valuing its competitiveness, isonomy and impersonality.

In case the share purchase and sale agreement is signed, the transaction will be subject to CADE's appreciation, at the time of the analysis of the Concentration Act, regarding the possible impacts to the competition defense.

The project is in a binding phase and the subsequent stages will be disclosed to the market according to the company's Divestment Methodology.

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