Petrobras on the Sale of REMAN

Source: www.gulfoilandgas.com 5/13/2022, Location: South America

Petrobras, following up on the release disclosed on 03/10/2022, informs that the General Superintendence of the Administrative Council for Economic Defense (CADE) approved the transaction for the sale of Refinaria Isaac Sabbá (REMAN) to Ream Participações S.A..

The final and unappealable approval of the transaction by CADE is still subject to the elapse of the 15-day period imposed by Law 12.529/11 for the filing of any appeals by third parties or for the revocation of the process by the CADE Tribunal. The conclusion of the transaction is also subject to compliance with the other precedent conditions provided for in the share purchase and sale agreement.

Petrobras reinforces its commitment to the broad transparency of its divestment projects and portfolio management and informs that the subsequent steps will be disclosed to the market in accordance with the company's Methodology for Divestments and Decree 9,188/2017.


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