Rio de Janeiro – Brazil’s national oil company Petrobras on Monday (11) finalized the sale of 51% of Petrobras Gás SA (Gaspetro) to Compass Gás e Energia SA. The transaction was concluded for BRL 2.097 billion (USD 394), fully paid on the date.
Gaspetro is a holding firm with equity interests in 18 natural gas distribution companies, located in all regions of Brazil. Its distribution networks total approximately 10 thousand km, serving more than 500,000 customers, with a distributed volume of around 29 million m³/day.
Its corporate structure, previoulys made up by Petrobras, with 51% of the shares, and Mitsui Gás e Energia do Brasil Ltda., with the remaining 49% of the shares, now becomes 51% of the shares by Compass and 49% of the shares by Mitsui Gás e Energy do Brasil Ltd.
The transaction is part of a commitment term signed by Petrobras with the Administrative Council for Economic Defense (Cade) in July 2019, to promote competition in the natural gas sector in Brazil, as well as the portfolio management strategy and the improvement of allocation of the company’s capital, aiming at maximizing value and greater return to society.
Translated by Guilherme Miranda
