MOSCOW (MRC) -- Petrobras completed the sale of Isaac Sabba (REMAN) refinery in Manaus, Amazonas state to Ream, a subsidiary of Grupo Atem, said the company.
Petrobras received USD257.2m, higher than the initial sale price of USD189.5m. The additional money reflects variation in working capital, net debt, investments and what Petrobras called monetary correction. The refinery has a throughput capacity of 46,000 bbl/day.
Petrobras will continue to support Ream in operating the refinery for up to 15 months under a service agreement. Grupo Atem is a fuel distributor and retailer with more than 320 franchised stations.
The company has distribution centres in Manaus, Amazonas state; Santarem and Itaituba in Para state; Porto Velho and Vilhena in Rondonia state; Sinop in Mato Grosso state; and Campo Grande in Mato Grosso do Sul state.
It can handle more than 5bn litres/year of fuel. Atem is building two more distribution centres.
We remind, Petrobras rejected a binding proposal for the Gabriel Passos Refinery (REGAP) in Minas Gerais state.
Petrobras rejected the bid because the proposal was below its "economic and financial evaluation", the company said. It will now consider when it could start a new bidding process.
We remind, Petrobras rejected a binding proposal for the Gabriel Passos Refinery (REGAP) in Minas Gerais state.
Petrobras rejected the bid because the proposal was below its "economic and financial evaluation", the company said. It will now consider when it could start a new bidding process.
mrchub.com