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PBR » Topics » m) Purchases of shares/quotas of Termobahia

This excerpt taken from the PBR 6-K filed Mar 31, 2009.

m) Purchases of shares/quotas of Termobahia

On April 3, 2008, Petrobras concluded the transaction for acquisition, for R$ 9.363, of all the shares issued by Termobahia S.A., held by Blade Securities Limited.

Blade is a specific purpose entity with its headquarters in Ireland, which, through project financing agreed upon with the Interamerican Development Bank (IDB), held a stake in Termobahia.

With the pre-payment to IBD all the obligations and restrictions arrising from this financing ceased, thus eliminating the barrier to Petrobras increasing its shareholding interest in Termobahia.

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