Apollo-backed Starboard in exclusive talks with Petrobras for 9 oilfields -sources

Apollo Global Management-backed investment firm Starboard Restructuring Partners is in exclusive talks with Petrobras to buy nine onshore oilfields for roughly 1 billion reais ($252 million), two sources familiar with the matter said this week.

The Brazilian investment firm, in which Apollo has a 20% stake, has partnered with oil startup 3R Petroleum, aiming to bring Starboard, for which this would be its entry into oil production, more knowledge about the sector. 3R was founded in part by former Petrobras managers and has been active in the industry only recently.

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