A PYMNTS Company

Brazil: Oil giant Petrobras clears $2.1B asset sales

By  |  August 19, 2013
Brazil: Oil giant Petrobras clears $2.1B asset sales

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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Oil Voice

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.