Mergers and Acquisitions: Big Companies Line Up For Petrobras Assets
Petrobras (NYSE:PBR) is currently in discussions with at least three prospective buyers of between $4 billion and $6 billion worth of interests in its oil blocks in the Gulf of Mexico. The Brazilian media says that Chevron Corporation (NYSE:CVX), Royal Dutch Shell (NYSE:RDS.A), Exxon Mobile Corporation (NYSE:XOM), and BP (NYSE:BP) are at the top of the list of companies likely to be the most interested. The sales form a portion of Petrobras’ strategy of divesting $14.5 billion worth of non-core assets.
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