Petrobras Seeks Stake in Galp Energy
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Wednesday, 06 January 2010 |
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Petrobras has resumed talks with Eni SpA about its 33
percent stake in Galp Energia according to a number of local sources.
Shares in Portuguese oil company Galp Energia rose more than 4
percent this week after reports that Brazil's Petrobras was negotiating
to buy a 33.3 percent Galp stake held by Italy's Eni.
The stake would be worth around €3.5 billion at current market prices,
though an analyst who asked not to be named said the transaction would
likely include a premium 10 percent.
Petrobras and Galp are already partners in some oil exploration deals
in Brazil. Petrobras would also represent a better stake holder than
ENI at present. Sources report that negotiations between
Petrobras and Eni started at the end of 2009.
PetrolWorld 050110 Source: Brasil Economico & Diario Economico(Pt)
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