Petrobras Concludes the Sale of Assets in Uruguay

Source: www.gulfoilandgas.com 2/5/2021, Location: South America

Petroleo Brasileiro S.A., Petrobras, following up on the release disclosed on October 2, 2020, informs that its indirect subsidiary Petrobras Uruguay Sociedad Anonima de Inversion (PUSAI), concluded the sale of its entire stake in Petrobras Uruguay Distribucion S.A. (PUDSA), in Uruguay, to Mauruguay S.A., an indirect wholly-owned subsidiary of Disa Corporacion Petrolifera S.A. (DISA).

After fulfilling all the precedent conditions, the operation was concluded with the payment of US$ 62 million to PUSAI, already with the adjustments provided for in the contract. The amount received at closing is added to the amount of US$ 6.17 million paid to PUSAI on the date the sale contract was signed, on October 2, 2020, totaling US$ 68.17 million.

This operation is aligned with the strategy of portfolio optimization and the improvement of the company's capital allocation, aiming at the maximization of value for its shareholders.


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