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Petrobras to sell biodiesel assets

By Mary Page Bailey |

Petróleo Brasileiro S.A. (Petrobras; Rio de Janeiro, Brazil) reports that it has started the opportunity disclosure stage regarding the sale of its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBIO).

This transaction consists of the sale of 100% of Petrobras’ shares in PBIO, including three biodiesel plants, and does not include the sale of PBIO’s stakes in BSBios (50.0%) and Bambuí Bioenergia (8.4%).

The subsequent stages of the project will be reported to the market in due course. This transaction is aligned with the strategy of portfolio optimization and the improvement of the company’s capital allocation, aiming at maximizing value for its shareholders.

Petrobras is also seeling its stake in  five power-generation companies: Brasympe Energia S.A. (Brasympe), Energética Suape II S.A. (Suape II), Termoelétrica Potiguar S.A. (TEP), Companhia Energética Manauara S.A. (CEM) and Brentech Energia S.A. (Brentech).

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