06/24/2024 – 14:02
BR Distribuidora gas stations will only be able to use this brand until June 2029. This means that stations known as Petrobras Stations must cease to exist with that name from then on. This was the agreement made when the Brazilian oil company sold its fuel distribution business in 2019.
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According to the agreement, the new owner, Vibra Energia, has the right to use the brand until 2029, which could be renewed. But, at the beginning of this year, Petrobras informed the market that it notified Vibra that it had no interest “in extending the term under the terms of the company’s current brand use license agreement, which began on June 28, 2019 and will end on June 28, 2029”, says the state-owned company.
Until then, Vibra can continue using the BR brand. “The aforementioned contract will remain in force, subject to the contractual terms and conditions”, reinforces the state-owned company. The company published a Material Fact confirming Petrobras’ notification and that “such communication does not generate any change in the company’s strategy in relation to its resellers and customers in general.” In other words, the stations remain as BR, including stations, trucks and other assets and official company communications, until June 2029.
In the Relevant Fact, Vibra highlights that the possibility of non-renewal of the contract after 2029 was already part of the company’s medium and long-term plans, and that the agreement provided for the possibility for the parties involved to communicate their interest in non-renewal within 24 months. before its termination.
Vibrates
BR Distribuidora, Petrobras’ fuel distribution company, was sold in July 2019, when Petrobras ceased to be the distributor’s largest shareholder, which now has more private capital than state capital. At the time, the initial share offering yielded R$9.6 billion for the oil company.
In June 2021, the state-owned company carried out a new share offering to dispose of its 37.5% stake in the distributor. The new owner, Vibra, is divided as follows:
- Dynamo 10.28%
- Fern Master Fund 8.93%
- I predicted 5.24%
- BlackRock 5.22%
- Others 70.32
A This is Money He contacted Vibra to comment on the topic and am awaiting a response. The text will be updated when there is a response from the company.
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