This excerpt taken from the PBR 6-K filed Jun 2, 2006.
Petrobras concludes acquisition of Shell assets in Uruguay
(Rio de Janeiro, June 1, 2006). PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, announces that concluded today the acquisition of Shells assets in Uruguay, comprising fuel distribution and sale operations. The acquisition includes service stations all over the Uruguayan territory, in addition to aviation fuel, maritime products, and lubricants sale facilities.
As from today, the service stations will operate under Petrobras responsibility. Changing Shells brand to Petrobras standard will take twelve months.
The public relationship line shall also be the same, in order to strengthen businesses in that country.
Because of its geographical position, Uruguay is strategic to Petrobras, as it is close to Brazil, Argentina, and Paraguay. That location represents a great potential of growth and synergy with current companys assets at the South Cone.
The business involved acquisitions in Paraguay, Colombia and Uruguay, an operation around 140 million dollars.
The operation is in line with Petrobras Strategic Planning objectives, i.e., consolidate itself as an integrated energy company.
Petróleo Brasileiro S.A PETROBRAS
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: June 01, 2006
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