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Brazil’s antitrust watchdog CADE approves sale of Petrobras refinery -Reuters

The facade of the headquarters of Petroleo Brasileiro S.A. (PETROBRAS) is pictured in Rio de Janeiro, Brazil December 9, 2019. (Sergio Moraes/Reuters)

Reporting by Rodrigo Viga Gaier, Gabriel Araujo and Carolina Pulice, Reuters

RIO/SAO PAULO/MEXICO CITY
EnergiesNet.com 05 16 2022

Brazil’s antitrust watchdog CADE has approved the sale of state-run oil company Petrobras’ (PETR4.SA) Reman refinery to Atem, two sources familiar with the matter said on Thursday.

Petroleo Brasileiro SA, as the company is formally known, had announced in August 2021 a deal to sell the refinery, which is located in the northern state of Amazonas, for $189.5 million. read more

The sale still needed to be approved by CADE, which last month said the transaction was “complex” and would require further analysis. Reman is one of eight refineries the company has put up for sale.

Newspaper O Globo had previously reported CADE’s green light, saying an official announcement was expected later in the day and the deal was approved by the competition regulator with no restrictions.

Petrobras did not immediately respond to a request for comment.

Reporting by Rodrigo Viga Gaier in Rio de Janeiro, Gabriel Araujo in Sao Paulo and Carolina Pulice in Mexico City; Editing by Bill Berkrot and Chris Reese

reuters.com 05 13 2022

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