PetroChina to buy Petrobras's Peru assets in $2.6 billion deal

11/25/2013
PetroChina Co. Ltd.'s indirect subsidiaries CNPC E&D Holdings Cooperatief UA and CNODC International Holding Ltd. have agreed with Petroleo Brasileiro SA's wholly owned subsidiaries Petrobras International Braspetro BV and Petrobras De Valores Internacional De Espana SL to buy Petrobras Energia Peru SA for $2.6 billion. PetroChina stated the purchase will help expand the scale of its oil and gas operations in Latin America and drive the sustainable development of its overseas business. A wholly owned subsidiary of Petrobras, Petrobras Energia Peru owns assets totaling $1.42 billion with $660 million in net assets, as of yearend 2012. The company's revenue from core businesses that yea...
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