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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 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 2017 299 228 M
EBIT 2017 48 588 M
Net income 2017 18 154 M
Debt 2017 303 381 M
Yield 2017 5,47%
P/E ratio 2017 11,54
P/E ratio 2018 9,07
EV / Sales 2017 1,62x
EV / Sales 2018 1,42x
Capitalization 180 680 M
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 16,8  BRL
Spread / Average Target 24%
EPS Revisions
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
Segen Farid Estefen Director
Sector and Competitors
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STATOIL-8.78%59 613
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