Petrobras divests stake in Brazilian biofuels firm
Petróleo Brasileiro S.A. – Petrobras, through its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBIO), has signed an agreement for the sale of its 8.40% stake in the company Bambuí Bioenergia S.A. to Turdus Participações S.A., which holds the other 91.60% stake in the company.
The transaction was concluded with the payment of the symbolic amount of BRL$1.00 (US$0.19) to PBIO, due to Bambuí’s negative equity. The operation closing was simultaneous to the signing of the agreement for purchase and sale of shares, which allowed the immediate withdrawal of Bambuí’s capital.
This transaction followed the guidelines established in PBIO’s Divestment Methodology and is aligned with Petrobras’ portfolio optimization strategy and improved capital allocation, aiming at maximizing value for its shareholders.
Bambuí is located in the city of Bambuí, in the state of Minas Gerais, and operates in the production of hydrous ethanol (ethyl alcohol) and electric power cogeneration.
Country updates
-
-
July 31, 2020
AES signs agreement to acquire minority stake in AES Tietê
AES Corporation, through its wholly-owned subsidiary AES Holdings Brazil Ltda, has agreed to acquire an 18.5% economic interest in AES Tietê S.A from BNDES Participações S.A.'s (BN...
Read more -
July 30, 2020
Brookfield Renewable to develop 1.2 GW Brazilian solar PV project
Brookfield Renewable Partners L.P., alongside its institutional partners, has entered into a binding agreement to acquire a 1,200 MW advanced solar development project in Brazil, which will be targete...
Read more -
July 27, 2020
Grupo Moura buys power from Casa dos Ventos' 504 MW Rio do Vento wind project in Rio Grande de do Norte
Grupo Moura has signed a PPA contract with Casa dos Ventos' 504 MW Rio do Vento wind complex located in Rio Grande de do Norte. Casa dos Ventos will supply to Grupo Moura's operations across the Sout...
Read more -
July 24, 2020
Trident Energy concludes acquisition of 10 oil and gas fields in Campos Basin
Trident Energy has closed the acquisition from Petrobras of the Pampo & Enchova clusters offshore Brazil. Initially developed by Petrobras, the 10 concessions (Enchova, Enchova Oeste, Marimb&aacu...
Read more -
July 23, 2020
ENGIE and CDPQ acquire remaining 10% of TAG in Brazil
ENGIE announced that its joint bid with Caisse de dépôt et placement du Québec (CDPQ) has been successful in acquiring the remaining 10% stake in Transportadora Associada de G&aacu...
Read more
