Petrobras begins non-binding stage in Petrobras Biocombustível SA sale process

Petróleo Brasileiro S.A. – Petrobras begins the non-binding phase regarding the sale of its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBIO).

Qualified parties for the phase will receive a process letter with detailed information about the aforementioned company, as well as instructions on the divestment process, including guidelines for preparing and submitting non-binding proposals.

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