Petrobras closes sale of 50% stake in biodiesel producer – Renewables Now

February 11 (Renewables Now) – Brazilian state-controlled company Petroleo Brasileiro SA (BVMF:PETR4), or Petrobras, has concluded the sale of a 50% stake in biodiesel plants operator BSBios

Petrobras’ wholly-owned unit Petrobras Biocombustivel SA (PBio) shed its entire interest to RP Participacoes em Biocombustiveis SA (RPBio), which already owns the other 50% in the target.

The transaction is valued at BRL 322 million (USD 59.7m/EUR 49.3m) in total, of which BRL 67 million are deposited in an escrow account for the compensation of eventual contingencies, while BRL 2 million were received by PBio as an advance last December.

BSBios owns one biodiesel plant in Passo Fundo, Rio Grande do Sul, and another in Marialva, Parana. Each of the facilities has an annual biodiesel production capacity of 414,000 cubic metres (14.6 million cu ft).

(BRL 1.0 = USD 0.186/EUR0.153)

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