Petrobras could get $768 mln with sale of Liquigás -daily (updated)

Aygaz

03/08/2016 16:10

(Adds Petrobras' comments) 
    BRASILIA, Aug 3 (Reuters) - Brazil's state-run oil company 
Petroleo Brasileiro SA  PETR4.SA  could get up to 2.5 billion 
reais ($768.07 million) from the sale of its liquefied natural 
gas distributor Liquigás Distribuidora SA, a local daily 
reported on Wednesday.  
    In June, the debt-laden Petrobras  PETR4.SA , as the company 
is known, kicked off a competitive auction for Liquigás, a 
subsidiary focused on the distribution and sale of liquefied 
natural gas (LNG).  
    Newspaper O Globo reported that the country's largest LNG 
distributor Ultragaz, Supergasbras, controlled by the 
Netherlands' SHV, Nacional Gás and Copagaz are in the running 
bid for Liquigás. 
    Gávea Investimentos Ltda, the hedge fund run by former 
Brazil central bank chief Arminio Fraga, and Turkey's Aygaz 
 AYGAZ.IS  are also interested but unlikely to win the bid, the 
daily said without citing sources. 
    Petrobras is also considering extending the deadline to 
receive the bids to Aug. 30 from Aug. 19, O Globo reported.  
    Petrobras' press office said the process to sell Liquigas 
began on June and there is "no agreement yet that assures the 
transaction will close, neither management or board decision on 
the matter."  
    Liquigás, which has a 23 percent market share in Brazil's 
liquefied natural gas market, has 23 plants, 19 warehouses and a 
network of 4,800 resale shops across the country. 
 ($1 = 3.2549 Brazilian reais) 
 
 (Writing by Alonso Soto; Editing by Marguerita Choy and 
Jonathan Oatis) 
 ((alonso.soto@thomsonreuters.com; +55 61 34267027; Reuters 
Messaging: alonso.soto.thomsonreuters.com@reuters.net)) 
 
Keywords: PETROBRAS M&A/LIQUIGAS