Home Offshore Energy Petrobras signs agreement for the sale of the RLAM refinery

Petrobras signs agreement for the sale of the RLAM refinery

Petrobras, following up on the release disclosed today, informs that it has signed a contract with MC Brazil Downstream Participações, a company of the Mubadala Capital group, for the sale of the company’s shares that will hold the Landulpho Alves Refinery (RLAM) and its associated logistics assets, in the state of Bahia, for US$ 1.65 billion.

As disclosed, the agreement provides for adjustments in the sale value due to variations in working capital, net debt and investments until the closing of the transaction, and that the operation is subject to compliance with precedent conditions, such as approval by the Administrative Council for Economic Defense (CADE).

Until the conditions precedent are met and the transaction is closed, Petrobras will maintain normal operations of the refinery and all associated assets. After the closing, Petrobras will continue to support Mubadala Capital in the operations of RLAM during a transition period. This will happen under a service agreement, avoiding any operational disruption. Petrobras and Mubadala Capital reaffirm their strict commitment to operational safety at RLAM in all phases of the operation.

This disclosure to the market is in accordance with Petrobras’ internal rules and with the special regime for divestment of assets by federal mixed economy companies, provided for in Decree 9,188/2017.

The transaction is in compliance with the current strategic plan and it is aligned with the optimization of the portfolio and the improvement of the company’s capital allocation, aiming to generate value for our shareholders.