Brazil’s Petrobras to Sell All Assets in Uruguay

RIO DE JANEIRO, BRAZIL – In a note, the company stated that its aim was to sell 100 percent of shares held in Petrobras Uruguay Sociedad Anónima de Inversiones (PUSAI), a holding company subsidiary, and in Petrobras Uruguay Distribuición S.A. (PUDSA), an operating company in the fuel distribution segment.

According to the state-owned company, “this operation is consistent with the improvement of our portfolio and the company’s capital allocation, with a view toward the generation of added value for our shareholders.”

“This announcement is in accordance with Petrobras’ Divestment Policy.” The subsequent main stages of the project will be reported to the market in due course.

Assets in Uruguay

Through PUDSA, Petrobras operates in the fuel and lubricant distribution market, with an asset portfolio that includes a network of 90 service stations, 16 convenience stores, a lubricant logistics terminal, and an aviation kerosene plant, the second-largest fuel distributor in Uruguay.

It also operates in the distribution of liquid fertilizers, through two storage logistics terminals, and is the country’s largest distributor of liquid fertilizers. In terms of logistics, it also has several delivery points located in Uruguay’s major public ports.

The notice containing the main information about the opportunity, as well as the eligibility criteria for the selection of potential participants, is available on the Petrobras website.

Source: Agência Brasil

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