Entering text into the input field will update the search result below

Brazilian judge blocks sale of Petrobras subsidiary to Mitsui

  • A Brazilian court has blocked the 1.9B real ($469M) sale of a 40% stake in a Petrobras (NYSE:PBR) natural gas unit to Mitsui (OTCPK:MITSY), complicating PBR's efforts to rebuild its financial footing by cutting debt through asset sales.
  • The judge ruled earlier this week that the sale of PBR's 49% stake in natural gas distribution unit Gaspetro should be halted because the deal did not meet certain transparency requirements, and because of worries that PBR may be repeating some of the actions that led to a massive corruption scandal.
  • PBR has released little information about the assets it is selling; Gaspetro, whose sale was announced last October and completed in December, was the only major deal done so far and raised less than 4% of the company ~$15B asset sale goal.

Recommended For You

About PBR Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
PBR--
Petróleo Brasileiro S.A. - Petrobras