Ultragaz, Brazil’s first distributor of LPG, serves approximately 11 million homes in the bottled gas segment and 50 000 customers in the bulk segment.
The total value of the sale corresponds to an Enterprise Value of R$2.8 billion. The amount to be paid will be restated by the Interbank Deposit Certificate (Certificado de Depósito Interbancário – CDI), between the dates of signing and closing of the transaction. The value will still be subject to adjustments resulting from the variations of working capital and the position of the net debt of Liquigás between 31 December 2015 and the date of closing of the deal.
The operation, conducted through a competitive process, is part of the 2015 - 2016 Disinvestment Plan and is aligned with the Company’s Strategic Plan, which aims to optimise the business portfolio, with focus on oil and gas, withdrawing entirely from LPG distribution.
This transaction is still subject to the approval at the Shareholders’ Meetings of Petrobras and Ultrapar, and to compliance with usual preceding conditions, including approval by the Administrative Council for Economic Protection (CADE).
