Market Overview

Petrobras To Acquire Remaining 50% Stake In Pasadena Refining

Share:
Related PBR
Brazil Soap Opera Continues With Arrest Of Former Finance Minister
Corruption Probe Still Providing Headline Risk To Petrobas Shares
Asset sales under way, Petrobras to exit Braskem stake by end 2018 (Seeking Alpha)

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!