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Brazil: Oil giant Petrobras clears $2.1B asset sales

By  |  August 19, 2013

A Petrobras Board of Directors meeting held last Friday resulted in the approval of $2.1 billion worth in asset sales, including the sale of 100 percent in Innova to Videolar for about $372 million. Petrobras issued a press release Monday outlining the transactions. In addition to the sale of Innova, the company announced the sale of a 35 percent share in oil block BC-10 to Sinochem Group for $1.54 billion, as well as sales of stakes in other oil blocks. The deals remain subject to regulatory approval by Brazil’s competition watchdog CADE. For complete details of each of the four transactions, click the link below.

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