Petrobras starts non-binding phase for Gaspetro's stakes sale

Petróleo Brasileiro S.A., commonly known as Petrobras, has started the non-binding phase with regards to the sale of its entire 51% stake in Petrobras Gás SA (Gaspetro).

Potential buyers eligible for this phase receive a descriptive memo containing more detailed information about the company in question, as well as for instructions on the divestment process, including guidelines for preparing and submitting non-binding proposals.

Gaspetro is a holding company with equity interests in several natural gas distribution companies, located in all regions of Brazil. In 2019, the total volume of gas distributed was 29 million cubic meters per day, serving around 500 thousand customers, through a distribution network of more than 10 thousand km of gas pipelines.

Its corporate structure is formed by Petrobras, with 51% of the shares, and Mitsui Gás e Energia do Brasil Ltda., Which holds the remaining 49% of the shares.

The main subsequent stages of the project will be informed to the market in due course.