Brazil's Petroleo Brasileiro SA is set to receive binding offers on Thursday for its Presidente Getulio Vargas refinery, with local firms Raizen ...
Brazil's Petroleo Brasileiro SA is set to receive binding offers on Thursday for its Presidente Getulio Vargas refinery, with local firms Raizen and Ultrapar Participacoes SA among the likely bidders, sources familiar with the matter said.
The sale is part of a multi-billion plan by the state-controlled oil company, known as Petrobras, to divest assets, with interest from ethanol and fuel distribution company Raizen and conglomerate Ultrapar powered by deep-pocketed foreign investment firms.Based in the southern Brazilian state of Parana, Repar is Brazil's fifth-largest refinery, able to process 208,000 barrels per day, representing 9per cent of the country's capacity.
Another source said Petrobras was expecting additional offers for Repar, without naming potential bidders.
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