Petrobras agrees sale of Liquigas to Copagaz, Nacional Gás Butano

Brazil’s state-owned Petrobras has entered into an agreement with Copagaz and Nacional Gás Butano for the sale of its LPG unit, Liquigas, for a total consideration of BRL3.7 billion (US$882.38 million). 

Liquigás is responsible for the bottling, distribution, and packaging of liquefied petroleum gas (LPG) in Brazil. The company has been a market leader in the LPG market that has 23 operating centers, 19 warehouses, a storage and cargo base by road, and a network of approximately 4,800 authorized resellers.

The deal is subject to CADE approval.