Petrobras received permission from the court to sell assets

113696

Brazilian state-owned oil and gas company Petrobas will resume the sale of assets after the approval of the Brazilian Supreme Court, according to a press release. The executive board will open the sale of a 90% stake in Transportadora Associada de Gas and all shares of Araucaria Nitrogenados. Brazil’s High Court has already given temporary permission to sell assets. On January 27, a plenary meeting is held, which will decide the future fate of the company. Petrobas was embroiled in a corruption scandal that caused a large debt, sales, and then freeze of assets. According to a court order in July, the sale of shares of state-owned companies is subject to the mandatory approval of the Brazilian congress. The company plans to reduce debt by 2023 by selling assets worth $26.9 billion.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong
Message: