Petrobras (Rio de Janeiro, Brazil) has finalized the sale of its entire interest (27.88%) in Deten Química S.A (Deten), located in the industrial complex of Camaçari, in the state of Bahia, to Cepsa Quimica S.A. (Madrid, Spain), which already has an indirect interest in Deten, of 69.94%.
After compliance with all the preceding conditions, the operation was concluded on this date, with the payment of R$514 million (around $97 million) in cash to Petrobras, an amount that reflects the purchase price of R$585 million (around $110 million), adjusted for monetary correction, dividends received, and the deduction of the deposit amount paid to Petrobras on the date of signing the share purchase agreement.
This operation is aligned with the optimization of the portfolio and the improvement of the company’s capital allocation, aiming to generate value for its shareholders.