The state-owned Brazilian oil company Petrobras has announced that Mubadala Investment UAE will enter into exclusive talks with the company to purchase the second largest refinery in Brazil.
According to Reuters, Mubadala has the advantage of buying the refinery, known as Ralam, after excelling in a competition with the Indian Essar Group, according to three people close to the negotiation process. >
Petrolio Brasilero, officially known as Petrobras, confirmed in a disclosure that Mubadala made the best offer and was invited to negotiate.
People who requested that their names not be released because the talks are not being announced at the moment said that Mubadala will discuss the terms of the contract with Brazilian Petrobras in exclusive negotiations will take several weeks.
The sources added that if major changes were made to the contract, Petrobras would again invite competitors for a second round of price-based offers.
Reuters reported in June that the Indian giant, Essar, had made a binding offer to Ralam, and had competed to buy the refinery again if Petrobras decided to re-tender it in a tender. >
Mubadala and Essar have not yet responded to a request for comment. Petrobras did not provide any other details other than the disclosure addressed to the stock exchange.
Petrobras will disclose the final winner after completing all the stages.
Worlam, which is located in the northern state of Bahia and has a capacity of 300 thousand barrels per day, is the first of a group consisting of eight refineries that Petrobras intends to sell to end its monopoly on the fuel processing market in Brazil. .
