Petrobras & Gaspetro complete exit from Gasmar
2/21/2022
Petrobras, with its subsidiary Petrobras Gás SA (Gaspetro) finalized the pending legal dispute with Termogás SA (Termogás). As a result of this transaction, Termogás acquired the shares of Companhia Maranhense de Gás (Gasmar) held by Gaspetro, which corresponds to 23.5% of the total capital stock.
After the fulfillment of all the conditions, the operation was concluded with the payment of $56.9 MM to Gaspetro, already with the adjustments foreseen in the contract.
The transaction is part of Gaspetro's portfolio optimization strategy and is in line with the Cessation Commitment Term for the natural gas market signed with CADE, in July 2019, to promote competition in this sector in Brazil.
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