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Taiyo to Acquire Nansei Sekiyu Kabushiki Kaisha

Taiyo Oil Company, Limited (“Taiyo”) hereby announces that it has reached a definitive agreement on the acquisition of 100% outstanding shares of Nansei Sekiyu Kabushiki Kaisha (“NSS”) from Petrobras International Braspetro B.V.(“PIB”), a subsidiary of Petróleo Brasileiro S.A.(“PB”)(Headquarters: Brazil)

Purpose of the Transaction

Taiyo is to operate the oil terminal business with the aim to contribute to the stable supply of the oil products to the Okinawa market, as well as to generate business synergies with its own existing oil business in the future.

Overview of NSS

Company Name

Nansei Sekiyu Kabushiki Kaisha

Location

858, Aza Onaha, Nishihara-cho, Nakagami-gun, Okinawa, Japan 903-0210

Representative

President & CEO Edison Massaki Ishikura

Ownership

Wholly owned by Petrobras International Braspetro B.V.

Business Description

Oil terminal business

Share Capital

JPY 44,160 million (as of September, 2016)

Date of Establishment

May 24, 1968   

Overview of PIB 

Company Name

Petrobras International Braspetro B.V.
(99.98% share owned by PB)

Location              

WWenna 762, 9th Floor, 3014 DA Rotterdam, the Netherland

Major Shareholders

Petróleo Brasileiro S.A.

Number of Shares to acquire

2,685,664 (All the shares issued, as of September, 2016)

Schedule of the transaction

Execution date of the agreement

October 17, 2016

Closing date

Closing date is targeted to be by the end of 2016 (details remain to be discussed)