Petrobras peddles service stations in Uruguay

Petrobras peddles service stations in Uruguay

Corporate & Sovereign Strategy Economy & Policy M&A Equity Brazil Latin America Uruguay

Brazil's state-owned oil company Petrobras said Friday that it agreed to sell Petrobras Uruguay Distribuición, or PUDSA, its service station business in Uruguay, to Spain's DISA for $61.7 million. DISA paid $6.17 million at signing and plans to pay another $55.5 million at closing, subject to approval from Uruguay's anti-trust agency, Petrobras said in a statement. Petrobras hired Itaú BBA to advise on the sale of its stake in PUDSA in November last year. PUDSA is the second largest fuel distrib

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