Industry News
Petrobras Chile Sold for US$464m to Private Equity Firm
25 July 2016
(PetroPlaza) Petrobras has signed an agreement to sell 100% of Petrobras Chile to Southern Cross Group for an estimated US$464m.
279 gas stations, 8 distribution terminals, operations at 11 airports, stakes in 2 logistics companies, and 1 lubricant plant.
The estimated cash inflow from the deal is US$464 million, divided as follows: US$88 million arising from the distribution of surplus cash before the transaction closed; US$367 million to be paid by Southern Cross on the day of closing; and a price adjustment payment of US$9 million.
The deal’s completion is expected to take three to four months, subject to compliance with certain prior conditions
The Southern Cross Group is a private equity firm founded in 1998, with US$2.9 billion of assets under management, which focuses on investments in Latin America, in companies in the industrial, service, logistics and consumer goods sectors.
You may be interested in...
-
LAVCA in Brasil; Morgan Stanley Tactical Value Invests USD100m for Mexico’s Clip
-
GEF Vommits USD6m to Yield Lab’s Opportunity Fund
Global Environment Facility committed USD6m to The Yield Lab Latam’s opportunity...
-
Emerald Technology Ventures Leads USD7.5m Series A for Argentina’s Kilimo
Emerald Technology Ventures led a USD7.5m Series A for Kilimo, an Argentina-based...
-
LAVCA in São Paulo; AWS Cloud Credits Fund; Clip Raises USD100m