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Petrobras in talks to sell 49% Gaspetro stake

Staff writer |
Brazil’s government-run oil company Petrobras reported that talks for the sale of a 49% stake in its gas industry subsidiary Gaspetro to Mitsui Gas e Energia do Brasil are at their final stages.

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In a statement, Petrobras says the operation has been based on a competitive process and is part of the Divestments Program outlined in its 2015-2019 Business and Management Plan.

According to the statement, the transaction’s final terms and conditions are now pending approval from the Executive Board, the Board of Directors and from government regulators. The company has not disclosed the value of the deal.

Through its Divestments Program, Petrobras, which is struggling with cash flow issues, hopes to sell $15 billion worth of assets in the next two years.

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