A PYMNTS Company

Brazil: Petrobras signs deal with CADE for sale of refining assets

 |  June 12, 2019

Brazil’s state-controlled oil company Petroleo Brasileiro SA said on Tuesday it has signed a deal with local antitrust regulator CADE regarding the proposed sale of some of its refining installations.

According to a securities filing, the company said the agreement will allow for increased competition in Brazil’s refining sector, by attracting new players to the business.

Petrobras, as the oil firm is known, will sell eight refineries in seven different Brazilian states.

Full Content: Reuters

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