One-Page Deal Sheet
Petrobras Sells Assets to Sinochem in Santos Basin
Sinochem Group Petrobras
Announced Date
May 09,2012
Close Date
May 09,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
1540
Asset/Basin:
{"Campos Basin"}
Location
Region
South America
Country
Brazil
Transaction Details: Subscribe to see
Brazilian state-controlled oil company Petrleo Brasileiro SA raised $2.1 billion on Friday from the sale of stakes in several petrochemical and oil exploration projects, making progress in its effort to shed non-core assets and protect cash.
Petrobras, as the Rio de Janeiro-based company is known, sold a 35 per cent stake in a Santos Basin oil exploration project to China’s Sinochem Group Co Ltd for $1.54bn, all of the shares it owned in a petrochemical compound, as well as stakes in a Gulf of Mexico bloc and a thermal energy company in Brazil, according to a securities filing.
The sale of…
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