Petrobras’ Assets Targeted By Giants

Important Petrobras assets are the target of Brazilian and foreign conglomerates.The Ultra, owner of Ipiranga (service stations), Ultragaz (cooking gas), Ultracargo (logistics), Extrafarma (pharmacies) and Oxiteno (chemical) are showing an interest in BR Distribuidora, the leader in fuel distribution in the country. That same asset is in the sights of Canada’s Brookfield, according to the O Estado de S. Paulo newspaper.

The oil company has not officially put up the cooking gas division, Liquigas, for sale, but it already has attracted interest, including competitors such as Ultra and Copagaz.

For Brookfield, all of BR Distribuidora’s businesses might be targeted, as well as the state company’s stake in Braskem.”If you could list Brookfield’s priorities (in Brazil), Abengoa is the first, and BR and Braskem would come next,” a source close to the company told the newspaper.