Petrobras Announces Non-binding Phase for the Sale of TAG

Source Press Release
Company Petrobras (IFRS US$ Current) 
Tags Assets for Sale, Pipelines/ tankers/ distribution
Date January 17, 2020

Petrobras, following up on the press release disclosed on 12/11/2019, announces the beginning of the non-binding phase related to the sale of its remaining stake (10%) in Transportadora Associada de Gás S.A. (TAG).

Potential buyers qualified for this phase will receive a descriptive memorandum with more detailed information about the aforementioned company, as well as instructions on the divestment process, including guidelines for preparing and submitting non-binding proposals.

This disclosure complies with the Petrobras' divestment guidelines and the special regime of asset divestment by federal mixed capital companies, provided for in Decree 9,188/2017.

This transaction is in line with the portfolio optimization and the improvement of Petrobras’ capital allocation, aiming at maximizing value for its shareholders.

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