Enauta Informs Execution of Agreement for the Sale of its Working Interest in the Manati Field

Source Company Press Release
Company Enauta Participacoes SA, Gas Bridge SA
Tags Country: Brazil, M&A: Asset Deal, Deals, Upstream: Upstream News
Date August 16, 2020

Enauta Participações S.A. (“Company”, B3:ENAT3) informs its shareholders and the market in general that, on the night of August 14th, 2020, its subsidiary Enauta Energia S.A. (“Enauta Energia”) executed an agreement for the sale of its entire stake (45%) in the Manati Field to Gas Bridge S.A.

The deal is subject to some conditions precedent.

For the sale of its stake in the asset (including the decomissioning fund), provided the conditions agreed upon in the agreement are fulfilled, the Company shall be entitled to an amount of R$560 million, which may be increased depending upon certain regulatory and commercial events and conditions.

Pursuant to the abovementioned agreement, it should be highlighted that Enauta Energia will remain receiving the cash flow related to the Manati Field until December 31st, 2020.

All the acts necessary for the closing of the deal, including the payment of the purchase price, are expected to be carried out until December 31st, 2021.

The Company will keep the market informed of any material facts related to this subject.

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