Informação jurídica inteligente
 Brasil | +55 (11) 31 81 77 29

Mitsui studies selling stake in Gaspetro

Document Citado por Related
Vincent

Mitsui is considering putting up for sale its stake in Gaspetro, holding company that has stakes in 19 gas distributors in Brazil, three people familiar with the matter say. The Japanese conglomerate holds 49% of the gas company controlled by Petrobras, which has 51%. The Brazilian state-run oil company is in formal process to sell the control of Gaspetro, and has received offers for its stake.

Mitsui became a Petrobras partner in late 2015, when it acquired the 49% stake for nearly R$2 billion. It already had relevant direct minority stakes in eight state distributors - six in the Northeast region and two in the South - and now mandated a bank to test the interest of potential investors in its part of the holding company. Two sources say Morgan Stanley has the mandate. Bank and Mitsui declined to comment.

In its effort to sell non-strategic assets, Petrobras formalized its decision of shedding its stake in Gaspetro in July, when it announced it was receiving binding proposals. Mitsui, which has right of first offer, would have not demonstrated interest in the deal, one person familiar with the matter says.

Before opting for the sale of its controlling stake, Petrobras also considered taking Gaspetro public, as it did with BR Distribuidora, the largest fuel distributor in Brazil. But it would have met resistance from Mitsui. "Mitsui is a passive shareholder and leaves the strategic decisions to the controlling shareholder. With Petrobras's decision of getting out of the business, there is a concern in the group about knowing who will take control," one person familiar with the matter says.

The possible sale of Mitsui's stake will occur separately from that of Petrobras...

Para continuar a ler

PEÇA SUA AVALIAÇÃO

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT