Petrobras Signs Contract to Sell Subsidiary Liquigás for R$3.7 Billion

RIO DE JANEIRO, BRAZIL – The sale value is R$3.7 billion (US$925 million). As part of the operation’s structure, Itaúsa will invest a minority share of equity in Copagaz.

Liquigás operates in the bottling, distribution, and marketing of liquefied petroleum gas (LPG) in Brazil. Present in virtually all Brazilian states, it comprises 23 operating centers, 19 warehouses, a road-rail storage and loading base, and a network of approximately 4,800 authorized dealers, with a 21.4 percent share of the market.

Copagaz was founded in 1955 and is the fifth largest LPG company in Brazil. The company has a network of resellers with 2,700 representatives, distributing to approximately 1,800 municipalities.

Nacional Gás Butano is the energy company of the Edson Queiroz Group and has been operating for 68 years in LPG distribution, serving some 7.5 million families and approximately 17,000 companies through a network of 44 branches and 3,500 resellers.

Finally, Itaúsa is a Brazilian investment holding company with more than 40 years of existence, part of the powerful Itaú banking group.

The report was released in a note distributed by Petrobras. The operation is in accordance with the company’s divestment guidelines and with the special asset divestment policy of the federal mixed economy companies, as set forth in Decree 9,188/2017.

Source: Agência Brasil