@AfricaNews

Brazil's Petrobas to sale $1.3 bn of African venture stake | Africanews

5 days ago, 11:59

By: Africanews

The Brazilian state-owned oil company Petróleo Brasileiro SA is poised to accept the sale of its stake in its African subsidiary for about 1.3 billion dollars.

According to local paper newspaper Valor Econômico, Petrobras owns 50% of Petrobras Oil & Gas BV, or Petrobras Africa.

Brazilian financial company, BTG Pactual SA holds a 40% stake in the company and Helios Investment Partners holds the remaining 10%.

And according to an anonymous source, the three shareholders would sell their share for about 2.6 billion dollars.

Reuters reported on June 18 that a consortium led by Vitol SA had begun exclusive negotiations to acquire stakes in Petrobras Africa, and emerging as a winner from a number of bidders, including its competitor Glencore.

Petrobras Africa participates in two deepwater oil exploration blocks in Nigeria.

The heavily indebted company announced its intention to sell this stake in November as part of a disinvestment program aimed at unlocking $21 billion in assets by the end of the year.


Read More


Category: africa africa_business business news topnews

Suggested

18 minutes
@BBCAfrica - By: Andrew Harding
Hermit, Emperor, Magician: Predicting S Africa's future

Jacob Zuma is not leaving South Africa's political scene quietly. ...

Category: africa topnews news
16 hours ago, 23:17
@AfricaNews - By: Africanews
African leaders congratulate France on 2018 FIFA World Cup triumph | Africanews

France were on Sunday (July 15) crowned World Champions 20 years after they won the accolade when the country hosted the tournament in 1998. ...

Category: africa topnews news
18 hours ago, 20:24
@AfricaNews - By: Africanews
France crowned 2018 FIFA World Cup champions, beating Croatia 4 - 2 | Africanews

France have been crowned World Champions 20 years after they won the accolade when the country hosted the tournament in 1998. The Les Blues proved ...

Category: africa topnews news
19 hours ago, 19:23
@AfricaNews - By: Daniel Mumbere
[LIVE] 2018 World Cup final: France (2) vs. Croatia (1) | Africanews

How the two teams made it to the July 15 final has been one of the biggest talking points, as experts wonder whether 'the will to win' could trumple skill in the World Cup's biggest game. ...

Category: africa topnews news
22 hours ago, 16:49
@AfricaNews - By: Africanews
DR Congo's new army chief subject of U.S., EU sanctions | Africanews

Congo’s President Joseph Kabila has appointed a new army chief who is under international sanctions for the violent repression of dissent, raising fears of an imminent crackdown. ...

Category: africa africa_elections news
19 hours ago, 20:13
@AfricaNews - By: Africanews
Photos: Obama arrives in Kenya, meets Kenyatta and Odinga | Africanews

Former U.S. President Barack Obama arrived in Kenya, on Sunday for the first time since leaving office in 2017. Obama is visiting Kenya for the fifth time, as a private citizen. ...

Category: africa news topnews

@AfricaNews

Brazil's Petrobas to sale $1.3 bn of African venture stake | Africanews

5 days ago, 11:59

By: Africanews

The Brazilian state-owned oil company Petróleo Brasileiro SA is poised to accept the sale of its stake in its African subsidiary for about 1.3 billion dollars.

According to local paper newspaper Valor Econômico, Petrobras owns 50% of Petrobras Oil & Gas BV, or Petrobras Africa.

Brazilian financial company, BTG Pactual SA holds a 40% stake in the company and Helios Investment Partners holds the remaining 10%.

And according to an anonymous source, the three shareholders would sell their share for about 2.6 billion dollars.

Reuters reported on June 18 that a consortium led by Vitol SA had begun exclusive negotiations to acquire stakes in Petrobras Africa, and emerging as a winner from a number of bidders, including its competitor Glencore.

Petrobras Africa participates in two deepwater oil exploration blocks in Nigeria.

The heavily indebted company announced its intention to sell this stake in November as part of a disinvestment program aimed at unlocking $21 billion in assets by the end of the year.


Read More

Category: africa africa_business business news topnews

Suggested

18 minutes
@BBCAfrica - By: Andrew Harding
Hermit, Emperor, Magician: Predicting S Africa's future

Jacob Zuma is not leaving South Africa's political scene quietly. ...

Category: africa topnews news
16 hours ago, 23:17
@AfricaNews - By: Africanews
African leaders congratulate France on 2018 FIFA World Cup triumph | Africanews

France were on Sunday (July 15) crowned World Champions 20 years after they won the accolade when the country hosted the tournament in 1998. ...

Category: africa topnews news
18 hours ago, 20:24
@AfricaNews - By: Africanews
France crowned 2018 FIFA World Cup champions, beating Croatia 4 - 2 | Africanews

France have been crowned World Champions 20 years after they won the accolade when the country hosted the tournament in 1998. The Les Blues proved ...

Category: africa topnews news
19 hours ago, 19:23
@AfricaNews - By: Daniel Mumbere
[LIVE] 2018 World Cup final: France (2) vs. Croatia (1) | Africanews

How the two teams made it to the July 15 final has been one of the biggest talking points, as experts wonder whether 'the will to win' could trumple skill in the World Cup's biggest game. ...

Category: africa topnews news
22 hours ago, 16:49
@AfricaNews - By: Africanews
DR Congo's new army chief subject of U.S., EU sanctions | Africanews

Congo’s President Joseph Kabila has appointed a new army chief who is under international sanctions for the violent repression of dissent, raising fears of an imminent crackdown. ...

Category: africa africa_elections news
19 hours ago, 20:13
@AfricaNews - By: Africanews
Photos: Obama arrives in Kenya, meets Kenyatta and Odinga | Africanews

Former U.S. President Barack Obama arrived in Kenya, on Sunday for the first time since leaving office in 2017. Obama is visiting Kenya for the fifth time, as a private citizen. ...

Category: africa news topnews
Our App