Petrobras closes sale of distribution in Paraguay
Published by Laura Dean,
Tanks and Terminals,
The transaction was concluded with the payment of US$331.5 million by Paraguay Energy to PIB BV, after fulfilling all precedent conditions, in addition to US$49.3 million which had already been paid upon signing of the agreement, resulting in a cash inflow of US$380.8 million.
The agreement also provides for the licensing for the exclusive use of the Petrobras brand by the company Nextar (successor of Petrobras Paraguay Operaciones y Logística SRL), in service stations in that country, for an initial period of five years.
This project contributes to improving the company's capital allocation, thereby increasing value generation.
Read the article online at: https://www.tanksterminals.com/terminals/14032019/petrobras-closes-sale-of-distribution-in-paraguay/
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