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Brazil: GDF SUEZ inks offshore gas exploration buyout

 |  November 14, 2013

Gas firm GDF SUEZ has reportedly signed an agreement to acquire 20 percent of two gas exploration blocks from metals and mining conglomerate Vale, according to a press release.

This will be GDF SUEZ’s first exploration operation within Brazil, reports said. The areas, located in the northeast of the nation, are “relatively unexplored.”

Financial details of the deal were not disclosed; the deal remains subject to regulatory clearance from CADE.

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