NSS is a company wholly-owned by Petrobras International Braspetro – PIB BV located on the Island of Okinawa, in Japan. It has a refinery with a processing capacity of 100,000 barrels of oil per day, 36 tanks that store 9.5 million barrels of oil and oil products, three piers for loading and unloading ships and a monobuoy. Taiyo is a privately-held Japanese company headquartered in Tokyo that imports, exports, refines and sells oil products. It has nine offices/branches including one oil refinery in Japan. Nansei was sold through a bidding process, and the transaction price was assessed by three financial institutions and through two independent fairness opinions and a valuation report. The transaction was recorded in the partnership and divestment program reaching $13.6 billion during 2015-2016. The sale is in line with the Petrobras Strategic Plan, which aims to optimize its business portfolio. [Petrobras, 28.Dec.2016]
Petrobras Sells Sugar, Ethanol and Petrochemical Assets for $587 Million These transactions are part of the company’s partnerships and divestments program. The target for the period 2017-2018 is $21 billion … On December 28, 2016, Petrobras closed two asset sales for the total sum of $587 million. The subsidiary Petrobras Biocombustível (PBio) sold to Tereos Participations - a company in the French Tereos group - its entire stake in Guarani, representing 45.97% of the company's equity capital, for $202 million. The Petrobras Board of Directors also approved the sale of Companhia Petroquímica de Pernambuco (PetroquímicaSuape) and Companhia Integrada Têxtil de Pernambuco (Citepe) to two subsidiaries of the Mexican company Alpek, for $385 million. With these transactions, the Petrobras partnerships and divestments program has chalked up a total of $13.6 billion in the period 2015-2016, which is below the $15.1 billion target set for the two-year period. This failure to meet the target is explained by the company's obligation to comply with the preliminary injunction of the Sergipe Court that blocked the completion of the negotiations for sale of the Tartaruga Verde and Baúna fields, located in the Campos Basin and the Santos Basin, respectively, which were already at an advanced stage. The target for the partnerships and divestments program in the period 2017-2018 will automatically be increased by the respective amounts, to the sum of $21 billion. The assets sold do not have any Petrobras employees and the employment ties with the respective companies will not change as a result of the transactions. The two agreements closed are among the five transactions that may see their contracts signed in accordance with a precautionary decision handed down by the Federal Audit Court (TCU). All the transactions were conducted through a competitive process and the sale prices were appraised by several financial institutions, by means of independent opinions regarding the fair value (fairness opinion) and the valuation report. More about the companies involved in the transactions: