Petrobras Board of Directors Approves Sale Of 10% Stake in NTS

Source: www.gulfoilandgas.com 4/28/2021, Location: South America

Petrobras, in continuation of the communique released on July 3, 2020, informs that the company's Board of Directors, in a meeting held, approved the sale of its remaining 10% stake in Nova Transportadora do Sudeste SA (NTS) to Nova Infraestrutura Gasodutos Participacoes SA, a company formed by Nova Infraestrutura Multi-Strategic Investment Fund (FIP), an investment fund managed by Brookfield Brasil Asset Management Investimentos Ltda., And by Itausa SA, current controlling shareholders of NTS. The signing of the purchase and sale contract and the conclusion of the transaction will occur simultaneously, in the coming days.

The value of the transaction is R $ 1.8 billion. Considering the dividend discount, interest on own capital and restitution through capital reduction received by Petrobras throughout the year 2020 and 2021 and the other adjustments provided for in the contract according to the base date, it is estimated that the entry cash flow is R $ 1.5 billion, to be paid in full on the date of signature and conclusion of the operation.

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.


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