USD 80.5268

-0.16

EUR 93.3684

-1.09

Brent 66.42

-0.27

Natural gas 2.801

-0.01

101

Petrobras Acquires Stake in Gas Firm

Brazilian state oil and gas major company Petrobras would pay 47 million dollars for a 40 percent stake in the subsidiary of CEMIG

Petrobras Acquires Stake in Gas Firm

Brazilian state oil and gas major company Petrobras would pay $47 million for a 40 percent stake in the subsidiary of CEMIG (Companhia Energetica de Minas Gerais), the natural gas distribution company Gasmig.

Gasmig distributes 1.6 million cubic meters of gas per day to industry, thermoelectric plants and other clients in the wealthy central state.

CEMIG board president Wilson Brumer said Petrobras could boost its stake to 49 percent in the future by buying minority stakes, but control will remain with his company.

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