Petróleo Brasileiro S.A. announces merger of Sociedade Fluminense de Energia
Petrobras in compliance with the provision of CVM Instruction 358/02, announces that its Board of Directors, in
a meeting held today, has approved the merger offer of Sociedade Fluminense de Energia LTDA and that it will submit the subject for vote at an Extraordinary Shareholders Meeting to be convened in due course.
The merging of this company is designed to simplify the Company’s corporate structure, reduce costs and capture synergies.
Given that the merger involves wholly-owned subsidiary, there will be no increase of capital at Petrobras or new stock issue. The shares representing the capital stock of this wholly-owned subsidiary will be extinguished and the necessary accounting records will be made at Petrobras.