Vouga, Jones Day and Estudio Jurídico Gross Brown advised on the deal
Petroleo Brasileiro SA (PETR4) executed the sale of fuel distribution assets in Paraguay for $383.5 million to Corporación Paraguaya Distribuidora de Derivados del Petróleo S.A. (Copetrol)
The value of the deal is subject to adjustments based on working capital variations until the closing.
The sale is part of a plan to sell billions in assets to reduce debt.
In order to finance the acquisition, Copetrol secured a $130 million Syndicated loan arranged by Citigroup.
The transaction has been approved from the Antitrust Commission in Paraguay (Conacom) on February the 5th.
Copetrol S.A. markets petroleum products. The company was founded in 1973 and is based in San Lorenzo, Paraguay.
Petroleo Brasileiro S.A. – Petrobras explores for and produces oil and natural gas. The company, led by Roberto Da Cunha Castello Branco, Rafael Salvador Grisolia and Rafael Mendes Gomes, in 2018 recorded $90.63 Million Revenues.
Vouga Abogados advised Copetrol S.A. with a team including Rodolfo G. Vouga Z. (Picture), Perla Alderete, Andrés Vera, Marco Colman, Marta Martínez, Walter Vera, Laura Lezcano and Alice Ferreira in securing the antitrust clearance from Conacom and Rodolfo G. Vouga Z., Georg Birbaumer in connection to the financing.
Jones Day advised Copetrol S.A. with a team including Nicholas Rodríguez, Richard Puttré and Jessica Mendoza (Finance).
Estudio Jurídico Gross Brown advised Citibank with Sigfrido Gross Brown and Mauricio Salgueiro.
Involved fees earner: Sigfrido Gross Brown – Estudio Gross Brown; Mauricio Salgueiro – Estudio Gross Brown; Jessica Mendoza – Jones Day; Richard Puttré – Jones Day; Nicholas Rodríguez – Jones Day; Perla Alderete – Vouga Abogados; Georg Birbaumer – Vouga Abogados; Alice Ferreira – Vouga Abogados; Laura Lezcano – Vouga Abogados; Marta Martínez – Vouga Abogados; Andrés Vera – Vouga Abogados; Walter David Vera – Vouga Abogados; Rodolfo Vouga – Vouga Abogados;