Petrobras Will Defend Gaspetro Sale to Mitsui

Posted by Joseph Keefe January 28, 2016

Petróleo Brasileiro SA is unaware of a Brazilian court ruling suspending the sale of a 49 percent stake in a natural gas distribution unit, and vowed to defend the sale through any legal means possible.

In a securities filing on Thursday, Petrobras, as Brazil's state-controlled oil producer is known, said the transaction was legal and had obtained all regulatory permits.

Petrobras sold the stake to Mitsui & Co Ltd for about 1.9 billion reais ($463 million) late last year.

Reporting by Guillermo Parra-Bernal