Brazil Court Blocks Petrobras Gaspetro Stake Sale to Mitsui
A Brazilian court blocked the planned 1.9 billion real ($509 million) sale of 49 percent of Gaspetro, the gas pipeline unit of Petrobras, to Japan's Mitsui Co, a move that could frustrate the state-run oil company's efforts to sell assets to cut debt.
Judge Manoel Ricardo Calheiros D'avila of the Justice Tribunal of Bahia issued the injunction on Wednesday on behalf of the government of the state of Bahia - a Gaspetro and Mitsui partner in Bahiagas, the state's natural-gas distribution company - saying there were indications the sale could undermine the state's rights in Bahiagas.
The decision was only made public by the court on Thursday.
(Reporting by Jeb Blount and Marta Nogueira; Editing by Marguerita Choy)
(Reporting by Jeb Blount and Marta Nogueira; Editing by Marguerita Choy)
