Brazil's oil and gas major Petróleo Brasileiro S.A. (Petrobras) has announced that its wholly-owned subsidiary Petrobras Biocombustíveis S.A. (PBio) has started the opportunity disclosure phase (teaser) related to the joint sale of all its shares in biodiesel producer BSBios Indústria e Comércio de Biodiesel Sul Brasil S/A (BSBios).
Petrobras Biocombustíveis S.A. (PBio) holds a 50 percent stake in BSBios and will sell it together with its partner, RP Biocombustíveis SA, which owns the remaining 50 percent, through a tender process carried out exclusively by PBio, aiming at selling 100 percent of BSBios shares, following PBio’s divestment systematic.
The disclosure complies with Petrobras’ and PBio’s divestment guidelines and the special asset divestment regime by federal mixed-capital companies, provided for in Decree 9,188/2017 and the forthcoming transaction is in line with the portfolio optimization and the improvement of the company’s capital allocation, aiming at maximizing value for its shareholders.
BSBios currently owns and operates two biodiesel plants:
- Passo Fundo Biodiesel Plant, located in the city of Passo Fundo, in the state of Rio Grande do Sul, with an annual biodiesel production capacity of 288 000 m3 (expected to expand to 414 000 m3 per annum in 2020), a crushing capacity of 1 152 000 tonnes per year and a storage capacity of 120 000 tonnes of grains, 60 000 tonnes of bran and 7 500 m3 of biodiesel;
- Marialva Biodiesel Plant, located in the city of Marialva, State of Paraná, with an annual production capacity of 414 000 m3 and a storage capacity of 3 000 m3 of vegetable oil, 1 500 m3 of animal fat and 4 500 m3 of biodiesel.
