Petrobras Continues Asset Sales

Petrobras Continues Asset Sales

Brazil M&A

Petrobras has raised $2.1bn from the sale of stakes in four different assets, it says, as part of a plan to shed $10bn in non-core assets by 2017. The largest transaction is the sale of a 35% stake in the Parque das Conchas block in the Santos Basin to China's Sinochem for $1.54bn. Petrobras also said that it would sell its stake in petrochemicals firm Petroquimica Innova to Videolar for BRL870m ($377m), including the assumption of BRL23m debt. It also raised BRL38m from the sale of a 20% stake

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