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Brazil's Petrobras kicks off auction process to sell Liquigás

  • Region:

    Brazil

  • Sector:

    Energy

  • Deal Size:

  • Buy Side Company:

  • Sell Side Company:

    Petroleo Brasileiro S.A.
  • Target Company:

    Liquigas Distribuidora S.A.

Brazil's state-controlled oil company Petróleo Brasileiro SA has kicked off a competitive auction process to sell Liquigás Distribuidora SA, a subsidiary focused on the distribution and sale of liquefied natural gas. In a securities filing on Wednesday, Petrobras (PETR4.SA) said the process has yet to yield a tentative agreement with an interested party, though there is no timetable for the conclusion of the sale. Liquigás, which has a 23 percent market share in Brazil's liquefied natural gas market, has 23 plants, 19 warehouses and a network of 4,800 resale shops across the country.

Tags:

mergersNews,US,PETROBRAS,M,A,LIQUIGAS,Brazil,New Issues,Company News,Privatisations,Market Events,Deals,Corporate Debt,Divestitures / Spin-Offs,Natural Gas Liquids,Europe,Corporate Finance,Liquefied Natural Gas,Natural Gas,Emerging Market Countries,Mergers / Acquisitions / Takeovers,Corporate Events,Economic Events,South America / Central America,Americas,Stake Sale