Investment partnerships

Petrobras Biocombustível sold its stake in Guarani, the Brazilian sugar and ethanol market leader, for US $ 202 million

Petrobras closed on Wednesday (28) two sales of assets in the total amount of US $ 587 million. In one of the sales, Petrobras Biofuels subsidiary (PBIO) sold for Tereos Participations -  company of the French group Tereos -  its stake in Guarani,  corresponding to 45.97% of the company's capital, for US $ 202 million.

Petrobras' Board of Directors also approved the sale of Companhia Petroquímica de Pernambuco (PetroquímicaSuape) and Companhia Integrada Têxtil de Pernambuco (Citepe) to two subsidiaries of the Mexican company Alpek for US $ 385 million.

With the announced operations, Petrobras' partnership and investment program totaled US $ 13.6 billion in the 2015-2016 biennium. The assets traded on this farm do not have Petrobras' own employees, and the employment relationships with the respective companies are not changed due to the transactions.

The two closed deals are part of the five transactions that can have their contracts signed in accordance with the precautionary decision of the Court of Auditors of the Union (TCU).

All transactions were conducted through a competitive process and the sales price was evaluated by several financial institutions through independent opinions on fairness and a valuation report.

Buying companies

Guarani is one of the leading companies in the Brazilian sugar and ethanol market. The company ranks third among the largest sugar producers in Brazil and has eight industrial units: seven in Brazil in São Paulo and one in Mozambique in Africa.

Tereos, which is a member of PBIO in Guarani with 54.03% of total capital, is the third largest sugar producer in the world. The group specializes in the transformation of raw materials into sugar, ethanol and alcohol.

Source: Portal Brazil, with information Petrobras