Rio de Janeiro – Brazil’s state-owned oil company Petrobras said this Friday (6) that it’s selling off 100% of its stake in Petrobras Colombia Combustibles (Pecoco), which handles fuel and lubricant distribution and sale in Colombia. In a teaser announcement, Petrobras disclosed details to prospective buyers, including fuel sales volume, number of units, and eligibility criteria.
The shares to be put on sale are currently retained by Petrobras Internacional Braspetro B.V. (PIB BV) and other Petrobras subsidiaries. The project will rely on advisory from UBS Brasil Serviços de Assessoria Financeira Ltda. Dates for upcoming steps are yet to be released. According to Petrobras, the 124 Pecoco service stations on offer boast prime locations, especially in Bogota. Last year saw 605,800 cubic meters worth of fuel sold, with sales going up for two straight years.
According to Petrobras, the move is “in line with the company’s portfolio optimization and streamlining of capital allocation, designed to maximize value for shareholders.”
Translated by Gabriel Pomerancblum
