Petrobras informs that the preventive order issued by the Brazilian Federal Accounting Court (TCU), yesterday, about Petrobras’ divestment process, authorized the continuation of the five processes that are in final negotiation.
Petrobras informs that today became aware of two decisions of the federal court of Sergipe state that granted injunctions in actions to suspend the divestment processes of the interest of its subsidiary BR Distribuidora and of the transfer of rights of oil and natural gas exploration, development and production of a set of onshore fields.
Petrobras announces that today, the Extraordinary General Meeting of Shareholders (EGM) approved the sale of 90% of its stake in Nova Transportadora do Sudeste (NTS), for USD 5.194 billion, to fund Nova Infraestrutura Fundo de Investimento em Participações, managed by Brookfield Brasil Asset Management Investimentos Ltda.
Petrobras, further to the Material Fact disclosed on November 22, 2016, informs that the amount of US$ 1.25 billion received upon the closing of the sale of the stake in the exploration block BM-S-8 to Statoil Brasil Óleo e Gás LTDA is being used in full for the early liquidation of part of the financing contract between Transportadora Associada de Gás S.A. (TAG), a wholly-owned subsidiary of Petrobras, and the Brazilian Development Bank - BNDES.
Petrobras announces that its Board of Directors approved, in a meeting held today, agreements to settle eleven individual securities actions brought before the US District Court for the Southern District of New York by Abbey Life Assurance Company Limited, et al., Aberdeen Emerging Markets Fund, et al., Aberdeen Latin American Income Fund Limited, et al., Danske, et al., Delaware Enhanced Global Dividend and Income Fund, et al., Dimensional Emerging Markets Fund, et al., Manning & Napier Advisors, LLC, et al., Russell Investment Company, et al., Skagen, et al., State of Alaska Department of Revenue, Treasury Division, et al., State Street Cayman Trust Co., Ltd, and Ohio Public Employees Retirement System. Petrobras has previously settled four individual securities actions brought in the Southern District of New York, as announced on October 21, 2016.
Petrobras reports that the sale operation of the company’s stake in the exploration block BM-S-8 to Statoil Brasil Óleo e Gás LTDA, announced on July 29, 2016, was closed today.
Petrobras clarifies that the Memorandum of Understanding, signed on October 24, 2016, between Total and Petrobras, with the goal of establishing a strategic partnership, includes several initiatives, such as technological cooperation agreements, development of joint studies in areas in Brazil and abroad, and negotiation of partnerships in certain assets of common interest.
In line with the understanding of Comissão de Valores Mobiliários (CVM) [the Brazilian Securities & Exchange Commission] issued in previous decisions by this government agency on the subject, Petrobras considers that the preemptive rights set forth in article 253 of Law 6.404/76 do not apply in the sale of Liquigás, having in view that the Company started to integrate the Petrobras System after a transaction of purchase and sale of shares, and not by means of incorporation, without any dilution of ownership interest by the shareholders of Petrobras.
Following the material fact disclosed on 10/06/2016, Petrobras informs that became aware of the existence of an action in respect of which an injunction was granted to suspend the divestment process of the concession rights for Baúna and Tartaruga Verde for the time being.
Petrobras informs that its Board of Directors approved, at a meeting held today, the signing of the contract for the sale of Liquigás Distribuidora S.A. to Companhia Ultragaz S.A., a subsidiary of Ultrapar Participações S.A.