Brazil Postpones Decision On Petrobras’ Refinery Sale

Brazil’s antitrust watchdog CADE on Wednesday postponed its decision on the sale of Petrobras’ Reman refinery to fuel distributor Atem.

The delay comes after board member Gustavo Augusto Freitas asked for more time to review the deal. Petrobras sold the refinery, located in the northern state of Amazonas, for $189.5 million to Ream Participacoes SA, a subsidiary of distributor Atem.

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