Galp Talks with Bidders on Brazilian Stake

Galp Talks with Bidders on Brazilian Stake

Brazil Europe M&A

Portuguese oil and gas company Galp Energia is in talks with a shortlist of bidders for a stake in its Brazilian operations, according to a company official. Galp has been seeking to raise at least EUR2bn ($2.75bn) in Brazil and has sought to sell as much as 40% of its business in the South American country, which includes a participation in one of LatAm’s largest oil discoveries. Spokesman Tiago Villas-Boas says the company plans to settle on a buyer and conclude the transaction by the end

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