Petrobras is willing to attend TCU to terminate action

Google translate of : https://www.portosenavios.com.br/no...sta-disposta-a-atender-tcu-para-encerrar-acao

If there is no further request, the plenary of the Federal Court of Audit (TCU) will release tomorrow the continuity of Petrobras' asset sales program. The privatizations are currently closed by a precautionary measure of the minister José Múcio Monteiro. The measure was about to be overturned last day, but the decision was interrupted by a request for a hearing from Minister Bruno Dantas. He will return the process to the agenda with a vote favorable to the continuity of the program, provided that Petrobras complies with the recommendations made by the technical unit.
The company is willing to comply, but is more concerned about turning the TCU page. The plan, however, may come up against another request for a view, this time from Minister Augusto Nardes. Petrobras management is distressed because the impasse is affecting even the businesses already authorized by the court of law.
Múcio's injunction, issued in December last year, banned five assets whose negotiations were already in progress. These transactions, however, hampered injunctions granted by the courts at the request of oil tankers' unions. The injunctions impeded the completion of the sale of the fields of Baúna and Green Turtle to the Australian group Karoon, a $ 1.5 billion business.
According to Valor, the delay has worried Australians, who were already facing problems with their partners in the operation. They are also stalled due to judicial injunctions on the sale of Suape Petrochemical Company. Located in Pernambuco, the venture was sold to a Mexican group. Petrobras threatens to close the complex if the transaction does not materialize.
There is an assessment that the precautionary measure of the TCU has been heavy on judicial decisions, hence the need for a definition of the process in the court of accounts. Petrobras wants to use the favorable judgment of the TCU in its appeals in court, but some are on deadlines close to maturity. The ideal for the state is that the court of accounts decided the matter before the Carnival holiday.
If this happens, the asset sales program will have to be practically restarted, with the exception of the five already advanced businesses. The process will have to be adapted to the rules determined by the TCU. Among the requirements is the prior publication of a material fact about the opportunity of the business to be alienated. The state company will also have to allow the empowerment of any interested parties to acquire the asset.
In deference to the "principle of equality, impersonality and competitiveness", Petrobras will also have to disclose to all bidders the information raised in the question and answer process and guarantee equal opportunities for participants to negotiate.
Some ministers criticized the rapporteur's injunction, classified as "childish." Petrobras would have explained to these ministers that the asset sale program depends on constant monitoring of the "temperature" of the market and that the prior and broad disclosure of the asset to be disposed of may result in losses for the company, since any interested parties Would have the chance to bargain substantially lower prices.
Source: Value
here