On July 11, 2018, the Paraguayan company Copetrol, the emblem with the largest number of service stations in Paraguay, notified the Paraguayan National Competition Commission of the acquisition of the Brazilian company Petrobras in Paraguay. After a long evaluation process, on February 5, 2019, the Paraguayan competition authority (CONACOM) issued Resolution No. 3/19 authorizing the concentration transaction between Paraguay Energy S.A., an affiliate of Copetrol, and the subsidiaries of Petrobras in Paraguay, subject to certain conditions.

The authorized concentration transaction is a milestone in the area of antitrust (competition law) and in the fuel sector in Paraguay, where the Copetrol Group, through Paraguay Energy, has made an important commitment to strengthen the participation of a national company in such an important sector of the Paraguayan economy.

CONACOM conducted an exhaustive analysis of the relevant fuels and alcohol, LPG and lubricants markets, including the study of the different levels of the investment chain, such as import, production, storage, river and land transportation, wholesale and retail marketing.

With the transaction, the Copetrol Group, through its companies Paraguay Energy and Copetrol, becomes the largest fuel distributor in Paraguay.

Copetrol was advised by Vouga Abogados during the entire process before CONACOM.