Page 14 - LatAmOil Week 28 2022

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INVESTMENT
Petrobras concludes

sale of Gaspetro

Petrobras, following up on the releases disclosed
on July 28, 2021, and June 22, 2022, informs that
it has today finalised the sale of 51% of Petrobras
Gás SA (Gaspetro) to Compass Gás e Energia SA
(Compass).
The transaction was concluded for
BRL2.097bn, fully paid on this date.
This disclosure to the market is in accord-
ance with Petrobras’ internal rules and with the
special regime for divestment of assets by fed-
eral mixed economy companies, provided for in
Decree 9,188/2017.
This operation is aligned with the Term of
Cessation Commitment (TCC) signed with
CADE in July 2019 to promote competition in
the natural gas sector in Brazil, as well as the
company’s portfolio management strategy and
capital allocation improvement, aiming at value
maximisation and higher return to society.
About Gaspetro: Gaspetro is a holding com- sustainability requirements that are increasingly the only national producer of Linear Alkylben-
pany with equity participation in 18 natural gas present in the debt markets. zene (LAB), precursor of Linear Alkylbenzene
distribution companies, located in all regions of Petrobras, July 11 2022 Sulfonate Acid (LABSA), of which it is also a
Brazil. Its distribution networks total approx- manufacturer. Its annual production capacity is
imately 10,000 km, serving more than 500,000 Petrobras finalises 230,000 tons of LAB and 120,000 tons of LABSA.
customers, with a distributed volume of about Additionally, the company produces 10,000
29mn cubic metres per day. Its corporate struc- sale of stake in Deten tons/year of Heavy Alkylate (HLA), which is
ture then formed by Petrobras, with 51% of the mainly used to produce thermal fluids, greases,
shares, and Mitsui Gás e Energia do Brasil Ltda, Petrobras, following up on the release disclosed lubricant additives, and textile oils.
with the remaining 49% of the shares, becomes on April 28, 2022, informs that it has today About Cepsa Química: Cepsa Química is the
51% of the shares of Compass and 49% of the finalised the sale of its entire interest (27.88%) world leader in the sector in which it operates
shares of Mitsui Gás e Energia do Brasil Ltda. in Deten Química SA (Deten), located in the and leads world production of LAB, the main
Petrobras, July 11 2022 industrial complex of Camaçari, in the state raw material used in biodegradable detergents,
of Bahia, to the company Cepsa Química SA, being a pioneering player. It is also number one
Petrobras secures loan which already has an indirect interest in Deten, in the production of cumene, an intermediate
of 69.94%.
product used in the manufacture of phenol and
linked to sustainability ditions, the operation was concluded on this the manufacture of engineering plastics, and of
acetone, which are the main raw materials for
After compliance with all the preceding con-
Petrobras informs that it signed, on July 8, date, with the payment of BRL514mn in cash to which it is the second largest producer world-
2022, a credit line with sustainability commit- Petrobras, an amount that reflects the purchase wide. Cepsa Química currently employs more
ments (Sustainability-Linked Loan - SLL) in the price of BRL585mn, adjusted for monetary cor- than 1,000 people and has plants in seven coun-
amount of $1.25bn and maturity in July 2027. rection, dividends received, and the deduction of tries around the world (Spain, Germany, Brazil,
The operation was signed with the banks the deposit amount paid to Petrobras on the date Canada, China, Indonesia and Nigeria).
Bank of China, MUFG and The Bank of Nova of signing the share purchase agreement. Petrobras, July 5 2022
Scotia, with competitive costs in comparison to This disclosure to the market is in accordance
market references, and also considering incen- with Petrobras’ guidelines for divestments and
tive mechanisms for the achievement of sus- with the special regime for divestment of assets PERFORMANCE
tainability commitments, based on corporate by federal mixed economy companies, provided
KPIs of GHG intensity in E&P, GHG intensity in for in Decree 9,188/2017. Gran Tierra Energy
refining and methane intensity in E&P. This operation is aligned with the optimisa-
This is the first time Petrobras has contracted tion of the portfolio and the improvement of the provides operations
financing associated with its corporate sustain- company’s capital allocation, aiming to generate
ability targets, which reinforces the company’s value for its shareholders. and financial update
focus on the decarbonisation of its operations About Deten: Deten manufactures and sells
and expands the liability management strategy the main raw materials for the domestic and Gran Tierra Energy has announced an opera-
by diversifying financing models, in line with the commercial cleaning segment in Brazil, being tions and financial update.

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