Petrobras Completes Sales of Paraguay Operations
03.20.2019 - NEWS

March 18, 2019 [Tank Storage Magazine] – Petrobras has completed the sale of its entire equity interest in Petrobras Paraguay Distribución, Petrobras Paraguay Operaciones y Logística and Petrobras Paraguay Gas SRL to the Copetrol Group.

 

The companies sold operate in Paraguay in the distribution and sale of fuels, LPG, lubricants and other special products through a network of 201 service stations, as well as a proprietary storage terminal and operations at three airports.

The transaction was concluded with the payment of $331.5 million by Paraguay Energy to PIB, after fulfilling all precedent conditions, in addition to $49.3 million which had already been paid upon signing of the agreement, resulting in a cash inflow of $380.8 million.

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