July 14, 2024

Petrobras (PETR4) Closes Block Sale, Vale (VALE3) Reports Samarco and More News

4 min read
Petrobras contracts $5 billion credit line, GPA-Assaí agreement, proceeds from Marfrig and more tokens
Petrobras contracts $5 billion credit line, GPA-Assaí agreement, proceeds from Marfrig and more tokens

Radar InfoMoney is highlighting the sale of Petrobras’ assets in an oil basin in Rio Grande do Norte and Vale in connection with the Samarco judicial recovery process.

Petrobras has informed that it has signed a contract with Aguila Energia e Participações in order to relinquish with Sonangol the full participation of both companies in the onshore exploration block POT-T-794, belonging to the BT-POT-55A concession, located in the Potiguar Basin, in the state of Rio Grande do Norte.

The selling price is $750,000, with $150,000 in cash and $600,000 to be paid at the close of the deal. The amounts do not take into account the adjustments due until the closing of the deal, which is subject to the fulfillment of certain pre-existing conditions, such as the approval of the National Agency for Petroleum, Natural Gas and Biofuels (ANP).

“Petrobras continues to increasingly focus its resources on deep and ultra-deep water assets, where it has demonstrated a significant competitive advantage over the years, producing better quality oil and lower greenhouse gas emissions,” he said.

The concession was acquired in 2006 in the seventh round of bidding for the blocks held by the National Ports Agency. Petrobras owns 70% of the shares and Sonangol, the concession operator, owns the remaining 30%. The consortium has drilled two wells in the area, one as a gas finder and the other for demarcation.

The parties said in a statement on Monday that Samarco, a joint venture between Brazil’s Vale and Anglo-Australian BHP Group, and its creditors had not initially reached a bankruptcy agreement, but negotiations were expected to continue.

In April 2021, Samarco filed for protection in court, with a debt of R$50.5 billion, in the midst of a battle with creditors who own the bonds issued by the company. In July, the creditors rejected an offer made by Samarco, and new proposals made by each side subsequently did not lead to an agreement.

In October, the period for Samarco’s judicial reorganization was extended to April 9, 2022. According to the newspaper Economic valueThe expectation is that a general meeting of creditors will be held by that date to get back to business plans.

The latest proposal states that investors will have the option to receive credits at a 75% discount through 2042. Another alternative is to convert the credits into preferred shares of Samarco, which will be paid out via dividends.

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According to his source Values, whose name has not been disclosed, should Samarco not generate enough cash to comply with Renova’s requirements, parent companies Vale and BHP will undertake to do so. Renova is the foundation set up by Samarco to respond to the reform of the tragedy in Mariana.

espadrille (ALPA3)

Alpargatas announced Monday that the Board of Directors has decided to distribute interest on equity of R$0.148 per common share and R$0.163 per preferred share, for a total amount of R$90 million.

Shareholders registered on December 30, 2021 are entitled to interest on equity, and payment must be made in 2022 on a date not yet determined by the Board of Directors.

On Monday, Copasa (Companhia de Saneamento de Minas Gerais) announced that it had increased from R$33.5 million to R$217 million its loss allowance in a 2008 labor lawsuit filed by the company’s main employee union.

“Given recent decisions on this matter, the company has said it believes a loss is likely and has decided to review the amount of the provision,” he wrote.

Dasa (Diagnostics of America) announced on Monday the merger of the shares issued by Ímpar into the ownership of its minority shareholders and the purchase of all shares issued by Andrade da Silva Participações by Ímpar. Shareholders opposed to Ímpar are entitled to redeem their shares for R$7.36.

BB Security (BBSE3)

BB Seguridade on Monday announced the formalization of an insurance offer agreement through a network of bank correspondents operated by Promotiva, with the aim of acquiring new clients and distributing, displaying and selling insurance products. With more than 5,000 credit agents, Promotiva is a subsidiary of Banco do Brasil, the controller of BB Seguridade.

Under the agreement, Promotiva undertakes to make its channels, service points and employees available for the sale of insurance products only to BB Corretora, a subsidiary of BB Seguridade. The insurance product pre-approved for disclosure and sale under the terms of the Agreement is the BB Seguro Crédito Protegido Slip.

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directional (DIRR3)

Direcional has approved a share buyback program of 80 million registered ordinary shares, book-entry and non-nominal listing, equivalent to 10% of the company’s stock. The maximum term for acquisitions is 18 months.

Biomm announced the election of Claudio Louise Lautenberg, at an extraordinary general meeting, to the position of Chairman of the Board of Directors. He replaces Guilherme Caldas Emmerich, who died in November of this year.

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