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Divestment Plan

Petrobras sells stake in Gás Local to White Martins Gases

09/25/2020 | 11h18
Petrobras sells stake in Gás Local to White Martins Gases
T&B Petroleum T&B Petroleum

Petrobras signed contracts with White Martins Gases Industriais encompassing: (a) the sale of Petrobras' 40% stake in the company GNL Gemini Comercialização e Logística de Gás Ltda (Local Gas); (b) agreement to close corporate disputes, arbitration and subjects under judicial discussion regarding the operations of Gás Local; and (c) adjustments in commercial conditions for the supply of gas, by Petrobras, as a consortium member of the Gemini Consortium, formed between Petrobras, White Martins and Gás Local, until the end of 2023.

 

The closing of transactions is subject to compliance with precedent conditions, such as approval by the Administrative Council for Economic Defense.

 

This operation is in line with the portfolio optimization strategy and the improvement of the company's capital allocation, aiming at maximizing value for its shareholders.

 

About Local Gas 

Gás Local is a company based in the state of São Paulo that operates in the distribution and transportation of liquefied natural gas, using cryogenic trailers.



Font: T&B Petroleum/Petrobras Agency
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