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4-Traders Homepage  >  Equities  >  BOLSA DE VALORES DE SAO PAULO  >  Petroleo Brasileiro SA Petrobras    PETR4   BRPETRACNPR6

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13.69 BRL   -2.21%
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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 CEST

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 296 523 M
EBIT 2016 37 834 M
Net income 2016 6 273 M
Debt 2016 338 291 M
Yield 2016 2,88%
P/E ratio 2016 51,68
P/E ratio 2017 15,05
EV / Sales 2016 1,78x
EV / Sales 2017 1,48x
Capitalization 188 675 M
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Mean consensus HOLD
Number of Analysts 14
Average target price 14,1  BRL
Spread / Average Target 2,9%
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Managers
NameTitle
Pedro Pullen Parente Chief Executive Officer & Director
Aldemir Bendine President & Director
Luiz Nelson Guedes de Carvalho Chairman
Ivan de Souza Monteiro Chief Financial & Investor Relations Officer
Roberto Moro Chief Engineering & Technology Officer
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Sector and Competitors
1st jan.Capitalization (M$)
PETROLEO BRASILEIRO SA..103.88%58 246
PETROCHINA COMPANY LIM..-13.05%190 274
TOTAL3.08%119 322
NK ROSNEFT' PAO--.--%58 984
ENI SPA-8.33%51 405
STATOIL ASA3.88%50 877
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