Petrobras To Acquire Remaining 50% Stake In Pasadena Refining
Petroleo Brasileiro SA (NYSE: PBR), or Petrobras, announced its plans to buy 50% of the remaining stake in Pasadena Refining Systems for a total of $820.5 million.
Petrobras had bought a 50% stake in Pasaneda refinery in 2006 for $360 million.
Petrobras shares closed at $18.77 on Friday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.