Petrobras Sells 40 Pct Stake in GBD (Brazil)

Petrobras Sells 40 PCT Stake in GBD (Brazil)

Petrobras said that its wholly owned subsidiary Petrobras Gás S.A. – Gaspetro, and Gás Brasiliano Distribuidora S.A. – GBD, signed yesterday an investment agreement with Companhia Energética de Minas Gerais (Cemig) to form a partnership in Gás Brasiliano Distribuidora S.A. – GBD, currently 100% controlled by Gaspetro.

The Agreement provides for new investments in GBD and the joining of Cemig in the Distribuidora capital, resulting in a partnership where Gaspetro owns 60% and Cemig 40%., Petrobras said in a statement.

The transaction and Cemig’s entry into the partnership are expected to take place in 2012, the company added.

LNG World News Staff, February 9, 2012

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