This excerpt taken from the PBR 6-K filed Oct 5, 2007.
Juiz de Fora Thermoelectric Plant Acquisition
(Rio de Janeiro, October 4, 2007). PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, announces that it has signed a purchase and sale agreement with ENERGISA S.A. for 100% of the stock of the Usina Termelétrica Juiz de Fora S/A. Also informs that Petrobras Comercializadora de Energia Ltda., signed an agreement for the right to market the power to ENERGISA S.A.s subsidiaries located in Northeastern Brazil. The operation is worth approximately R$204 million.
The Juiz de Fora Thermoelectric Plant runs on natural and has an installed power for 87 MW in single cycles. It is located in the Benfica Industrial District, in the city of Juiz de Fora, State of Minas Gerais, and has power sales agreements valid through 2022.
This operation is in line with the objectives set forth by Petrobras Strategic Plan that seeks to consol idate the company as an integrated energy corporation. Furthermore, it also represents a possibility for synergies with Petrobras current assets in the continent.
The company will keep the market informed regarding the conclusion of the operation, since it is subject to the fulfillment of preceding conditions which include not only securing approval from regulatory agencies but also other adjustments that are normally carried out in operations of this nature (in the due diligence process).
This document may contain forecasts that merely reflect the expectations of the Companys management. Such terms as anticipate, believe, expect, forecast, intend, plan, project, seek, should, along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: October 04, 2007
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.