Total: unfavourable ruling in Brazil.
(CercleFinance.com) - A Brazilian court has ordered a partial freeze on the sale of a 50% stake in Petroleo Brasilerio (Petroras) in TermoBahia to Total, it was announced on Monday.
This transaction is part of a larger 2.2 billion dollar deal that was sealed last December and which devoted a strategic alliance between the French oil giant and its Brazilian counterpart.
The federal court of the State of Sergipe made the ruling after a complaint. In the past it opposed a number of Petrobras disposals and partnerships with a view to reducing its debt.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
This transaction is part of a larger 2.2 billion dollar deal that was sealed last December and which devoted a strategic alliance between the French oil giant and its Brazilian counterpart.
The federal court of the State of Sergipe made the ruling after a complaint. In the past it opposed a number of Petrobras disposals and partnerships with a view to reducing its debt.
Copyright (c) 2017 CercleFinance.com. All rights reserved.