Report: CNOOC eyes Petrobras’ stake in Brazilian chemical firm Braskem
3/14/2016 12:00:00 AM
BRASILIA, March 14 (Reuters) -- China's CNOOC is interested in purchasing a minority stake in Brazilian petrochemical company Braskem from state-run Petroleo Brasileiro SA, or Petrobras, a Brazilian newspaper said on Monday.A Petrobras source told Reuters in January the company had been receiving interest from major international chemical companies for its 36% stake in Braskem. Talks are still preliminary, financial daily Valor reported.
Petrobras declined to comment. Representatives for CNOOC were not immediately available for comment.
Petrobras has tried to speed up a long-stalled program to sell assets as it struggles to finance expansion and pay down $130 billion in debt, the largest of any oil company.
Braskem's controlling shareholder, engineering conglomerate Grupo Odebrecht SA, is also seeking to exit Braskem and could sell its stake in a joint transaction with Petrobras, three sources told Reuters last week.
(Reporting by Silvio Cascione; Editing by Paul Simao)
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