Petrobras BoD approves additional sale model for stakes in BR Distribuidora

Petrobras Board of Directors has approved the additional sale model for the Company's holdings in Petrobras Distribuidora (BR), to be conducted through a secondary public offering (follow-on). After the offer, Petrobras remaining interest in BR’s share capital will be less than 50%, the Company said in its news release.

All acts necessary to carry out the offer will be subject to the approval of the company’s internal bodies, notably as to the price and actual percentage of the shares to be offered, as well as to the review and approval of the respective regulatory entities, in accordance with the applicable legislation.

This transaction is aligned with the optimization of the portfolio and with the improvement of the company’s capital allocation, aiming at generating value for our shareholders.