Petrobras pockets $60 mln for BSBios

Petrobras pockets $60 mln for BSBios

M&A Energy Brazil

Brazil's state-owned oil company Petrobras said it received BRL322 million ($60 million) from the sale of its 50% stake in biofuels producer BSBios to RP Biocombustíveis (RP Bio). RPBio paid BRL253 million upon closing the deal on February 9 and put BRL67 million in an escrow account. The company had made an upfront payment of BRL2 million when it announced the deal in December last year, according to Petrobras. Petrobras said in December that its subsidiary Petrobras Biocombustível (PBio) expec

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