Petrobras Signs Agreement with Amazonas Energia

Source: www.gulfoilandgas.com 4/7/2021, Location: South America

Petrobras informs that it has signed, together with its indirect subsidiaries Breitener Tambaqui SA and Breitener Jaraqui SA, a judicial agreement to receive amounts litigated by Amazonas Energia S / A (debtor) and Centrais Eletricas Brasileiras SA - Eletrobras (joint liability). Also part of the agreement is the payment by Amazonas Energia to Petrobras of past due amounts due from thermal contracts.

The agreement involves the recovery of credit by Breitener Tambaqui and Breitener Jaraqui, against Amazonas Energia, in the approximate amount of R $ 436 million, updated until 01/18/2021, referring to 7 lawsuits, which will be suspended until settlement of the credits negotiated. The amount transacted will be settled by the debtor in 60 installments, calculated by the constant amortization system - SAC, updated based on 124.75% of the CDI, from 1/18/2021 until its full settlement.

The agreement also included the recovery of Petrobras' credit, in the amount of approximately R $ 3.2 million related to a billing issued in September 2019, which will be settled by Amazonas Energia in cash, within 15 days, counting from the signing of the agreement. wake up.

The signing of the agreement will generate a positive effect on Petrobras' consolidated results in the second quarter of 2021 of R $ 328 million, net of tax effects. Information regarding amounts receivable from related parties, which includes receivables from the Eletrobras group, are presented in notes 14.1 to Petrobras' financial statements for 2020.

Petrobras understands that this agreement will anticipate the receipt of credit, reduce costs associated with continuity of these disputes and will end the associated controversies.

Petrobras holds a 93.66% interest in Breitener Energetica SA, the latter being the full parent company of Breitener Tambaqui and Breitener Jaraqui.


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