HRT Settles Call Option Deal

HRT Settles Call Option Deal

Brazil M&A

Brazil’s HRT Participacoes em Petroleo has agreed to pay BRL1.3bn ($711m) to Petra Energia as part of a call option to acquire a 45% stake in concession rights over 21 oil blocks located in Brazil’s Solimoes Basin. HRT is expected to pay the total amount in 5 installments of equal amounts over a period of 2 years. The first payment will be due within 5 days after Brazilian regulators approve Petra’s transaction with HRT, with the rest to be paid after the regulator also authorizes

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