Petrobras on Non-binding Phase of Assets in Uruguay

Source Company Press Release
Company Petrobras (IFRS US$ Current)
Tags Country: Uruguay, Downstream: Refining, M&A: For Sale
Date January 17, 2020

Petrobras, in continuity to the statement released on 11/12/2019, regarding the sale of 100% of the shares held by Petrobras Uruguay Sociedad Anónima de Inversiones (PUSAI), a subsidiary of Petrobras, at Petrobras Uruguay Distribuición S.A. (PUDSA), informs that the non-binding phase of the project is underway, as published in the teaser, with expectation beginning of the binding phase in the coming weeks.

Potential buyers qualified for this phase have already received a descriptive memorandum containing more detailed information about the assets in question, as well as instructions on the process of divestment, including guidelines for preparing and sending non-binding proposals.

This disclosure is in line with Petrobras' Divestment Scheme.

This operation is aligned with the optimization of the portfolio and the improvement of the company's capital allocation, aimed at generating value for our shareholders.

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