Market Overview

Petrobras To Acquire Remaining 50% Stake In Pasadena Refining

Share:
Related PBR
Commodities, Financials And Politics: LatAm's 'Increasingly Critical' Situation Explored
18 Stocks Moving In Monday's Pre-Market Session
No-Shows For 'NOPEC' Meeting Add To Doubts On Output Deal (Investor's Business Daily)

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.

Posted-In: merger and acquisitionNews M&A

 

Related Articles (PBR)

View Comments and Join the Discussion!