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Petrobras To Acquire Remaining 50% Stake In Pasadena Refining

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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

 

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