Post by account_disabled on Mar 12, 2024 4:55:36 GMT
The Administrative Council for Economic Defense approved this Wednesday (16/6), with restrictions, the sale of Petrobras' stake in the company GNL Gemini GásLocal to White Martins.
reproduction
Under the agreement signed, Petrobras undertakes to leave the Gemini Consortium that sells liquefied natural gas
The operation includes the sale, by the state-owned company of the global industrial gases and engineering company, of the equipment it has in a liquefaction plant owned by White Martins located in the municipality of Paulínia, in the interior of São Paulo.
Through the decision, Petrobras Portugal Mobile Number List undertakes, through a Concentration Control Agreement (ACC) signed with Cade, to leave the Gemini Consortium — a joint venture also formed by White Martins and GNL Gemini GásLocal — which aims to produce and sell gas liquefied natural gas (LNG) in Brazil. Within the scope of the consortium, the state-owned company supplies natural gas, while White Martins liquefies this gas and GásLocal distributes it.
According to the merger's rapporteur, advisor Luis Braido, the approval of the operation reduces, but does not entirely eliminate, possible incentives for anti-competitive conduct that may be committed by Petrobras for the benefit of GásLocal within the scope of the consortium. Thus, Petrobras' full exit from the Gemini Consortium was established through ACC to eliminate these competitive concerns. The document provides a final deadline, with restricted access to the parties, for the determination to be fulfilled by the state-owned company.
Cade established terms and conditions for the supply of natural gas by Petrobras to the consortium, considering its withdrawal from the share capital of GásLocal. The new clauses, however, will be subject to analysis by Cade's General Superintendence to verify whether the consortium's new agreement complies with previous decisions by the Council.
reproduction
Under the agreement signed, Petrobras undertakes to leave the Gemini Consortium that sells liquefied natural gas
The operation includes the sale, by the state-owned company of the global industrial gases and engineering company, of the equipment it has in a liquefaction plant owned by White Martins located in the municipality of Paulínia, in the interior of São Paulo.
Through the decision, Petrobras Portugal Mobile Number List undertakes, through a Concentration Control Agreement (ACC) signed with Cade, to leave the Gemini Consortium — a joint venture also formed by White Martins and GNL Gemini GásLocal — which aims to produce and sell gas liquefied natural gas (LNG) in Brazil. Within the scope of the consortium, the state-owned company supplies natural gas, while White Martins liquefies this gas and GásLocal distributes it.
According to the merger's rapporteur, advisor Luis Braido, the approval of the operation reduces, but does not entirely eliminate, possible incentives for anti-competitive conduct that may be committed by Petrobras for the benefit of GásLocal within the scope of the consortium. Thus, Petrobras' full exit from the Gemini Consortium was established through ACC to eliminate these competitive concerns. The document provides a final deadline, with restricted access to the parties, for the determination to be fulfilled by the state-owned company.
Cade established terms and conditions for the supply of natural gas by Petrobras to the consortium, considering its withdrawal from the share capital of GásLocal. The new clauses, however, will be subject to analysis by Cade's General Superintendence to verify whether the consortium's new agreement complies with previous decisions by the Council.