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4-Traders Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Petroleo Brasileiro SA Petrobras    PETR4   BRPETRACNPR6

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Petroleo Brasileiro Petrobras SA : Disposal of common shares held by Petrobras in Brasil PCH S.A.

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06/15/2013 | 01:45am CET

Disposal of common shares held by Petrobras in Brasil PCH S.A.

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Rio de Janeiro, June 14, 2013 - Petróleo Brasileiro S.A. - Petrobras announces it has signed with Cemig Geração e Transmissão S.A. ("Cemig GT") a stock purchase agreement for Petrobras' ownership interest in Brasil PCH S.A. ("Brasil PCH"), equivalent to 49% of the voting stock, in the total amount of R$ 650 million, to be adjusted in the stock purchase agreement ("CCVA").

Brasil PCH is currently one of Brazil's main independent electricity generating companies from renewable sources. The company's portfolio includes 13 operational small hydroelectric plants ("PCHs") with a total installed capacity of 291 MW. The PCHs are located in the states of Espírito Santo (4), Goiás (3), Minas Gerais (3) and Rio de Janeiro (3).

In meetings held on this date, the Boards of Directors of Petrobras and CEMIG approved the transaction, which is part of Petrobras' Divestment Program.

Completion of the transaction is subject to approval by the Brazilian Antitrust Authority ("CADE") and approval by the Brazilian Electricity Regulatory Agency ("ANEEL"), among other conditions precedent.

Common shareholders of Brasil PCH may exercise their right of first refusal or tag along right within 45 days.

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Financials ( BRL)
Sales 2016 291 835 M
EBIT 2016 32 179 M
Net income 2016 -223 M
Debt 2016 332 738 M
Yield 2016 1,24%
P/E ratio 2016 -
P/E ratio 2017 15,58
EV / Sales 2016 1,92x
EV / Sales 2017 1,61x
Capitalization 227 482 M
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Mean consensus HOLD
Number of Analysts 14
Average target price 15,9  BRL
Spread / Average Target 0,54%
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Managers
NameTitle
Pedro Pullen Parente President, CEO & Executive Director
Luiz Nelson Guedes de Carvalho Chairman
Ivan de Souza Monteiro Chief Financial & Investor Relations Officer
Roberto Moro Chief Engineering & Technology Officer
Luiz Augusto Fraga Navarro de Britto Filho Director
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Sector and Competitors
1st jan.Capitalization (M$)
PETROLEO BRASILEIRO SA..136.27%65 598
PETROCHINA COMPANY LIM..-7.07%199 840
TOTAL8.82%121 034
STATOIL ASA22.72%57 341
GAZPROM PAO--.--%56 422
GAZPROM PAO (EDR)29.99%56 422
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