Petrobras sells 49% Nova Fronteira stake for $148.3 million

December 14, 2016 |

In Brazil, Petrobras has agreed to sell its 49% stake in Nova Fronteira to its joint venture partner Sao Martinho for $148.3 million as the latest step in Petrobras’ $15.1 billion asset fire sale funding its major debt buydown. The country’s federal auditing court recently put the brakes on some asset sales but the Sao Martinho participation wasn’t included. As the company divests from biofuels, it remains in negotiations for the sale of its 45% stake in Guarani, controlled by Tereos.

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Category: Fuels

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