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Report: Petrobras nears $1.3B sale of African venture stake

Published 07/10/2018, 04:08 PM
© Reuters.  Report: Petrobras nears $1.3B sale of African venture stake
PBR
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GLEN
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  • Petrobras (NYSE:PBR) is close to agreeing to a sale of its stake in an African venture for ~$1.3B, according to a report from the Valor Econômico newspaper.
  • PBR owns 50% of Petrobras Africa, while Grupo BTG Pactual holds a 40% stake in the venture and Helios Investment Partners owns the remaining 10%, and all three shareholders reportedly would sell their stakes, valuing the venture at ~$2.6B.
  • Reuters reported last month that a consortium led by Vitol had entered exclusive talks to acquire stakes in Petrobras Africa, emerging as a winner from a number of bidders including Glencore (LON:GLEN).
  • Now read: Fast-Growth Royalty LP Dropping K-1s, Yields 7.6%, Big Q3 Deal Will Up DCF 15%


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