Brazil's Petroleo Brasileiro SA is set to receive binding offers on Thursday for its Presidente Getulio Vargas refinery, with local firms Raizen ...
SAO PAULO: 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.
Raizen, a joint venture between Royal Dutch Shell Plc and Brazilian ethanol producer Cosan SA, is teaming up with US-based private equity firm Global Infrastructure Partners to bid for various Petrobras refineries, Reuters reported in January. GIP has more than US$50 billion in assets under management.
Indian conglomerate Essar Group had considered a bid in recent months, but it was not clear if the company would follow through, another source said. Essar didn't immediately reply to a request for comment sent outside regular market hours in India.
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