Petrobras seals Total deal

Petrobras seals Total deal

Brazil M&A

Brazil's Petrobras said it has agreed to sell $2.2bn in assets to France's Total, including minority stakes in oil fields and thermal power plants.The state-owned energy company will receive $1.6bn in cash when the deal closes in 60 days. It will receive the remaining $600m in installments. Petrobras has sold $13bn in assets in the two years ending in 2016, short of its $15.1bn target. The company intends to sell at least another $19.5bn in assets in 2017 and 2018. The agreement w

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