In addition to taking over the Rio subway, the Arab fund Mubadala bought the Landulpho Alves refinery, which belonged to Petrobras, for US$ 1,65 billion
Mubadala, an investment fund from the United Arab Emirates, took over control of the Rio de Janeiro Subway Concessionaire, MetrôRio, in place of Invepar yesterday (08/11). The process authorizing the change, signed by Governor Cláudio Castro, was published in the Official Gazette of Rio de Janeiro.
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The Rio subway was previously under the control of Investimentos e Participações em Infraestrutura SA (Invepar), the majority shareholder of São Paulo International Airport, in Guarulhos.
According to Globo columnist Ancelmo Gois, the Arab fund helped with the restructuring of R$ 2.5 billion in debt at Invepar, in September. In exchange, it was agreed that Invepar would relinquish the concession for the subway and the Yellow Line.
However, in the case of Linha Amarela, there must be authorization from the City of Rio and the STF, where the case ended up after former Mayor Crivella took over the toll road.
Invepar, which now focuses on Guarulhos Airport, entered a crisis with the problems of OAS, which had to leave the company, after Lava Jato, in the hands of a group of pension funds.
Mubadala Group acquired from Petrobras, for US$1,65 billion, the RLAM refinery, in Bahia
Last week, Mubadala approved the purchase of a Brazilian refinery. The plant belonged to Petrobras and the value of the transaction was US$ 1,65 billion. RLAM began operating in 1950 and has the capacity to process 330 barrels of oil per day.
In addition to the RLAM, the sale included 669 km of pipelines that make up the refinery network, including short pipelines (Becan 6”, Becan 8”, and 21 pipelines for oil and derivatives, connecting RLAM to the Madre de Deus Terminal) and pipelines long (ORSUB, connecting RLAM to the Jequié and Itabuna Terminals; ORPENE L1/14”, ORPEN 12” and ORPENE 8”, connecting RLAM to the Camaçari Petrochemical Complex).
Odebrecht articulates the sale of petrochemical Braskem to Mubadala, the sovereign wealth fund of the United Arab Emirates
The petrochemical company Braskem, a Novonor Group company – formerly Odebrech, is in the crosshairs of acquisition by the sovereign wealth fund of the United Arab Emirates, Mubadala. The negotiations are about the purchase of 50,1% of the company that is part of the Odebrecht/Novonor judicial recovery program.
Petrobras, which owns the rest of Braskem, does not appear to be opposed to the deal. The state-owned company already has an ongoing process with the Arab fund, the sale of the Landulpho Alves Refinery (RLAM).
According to Broadcast Estadão, it is still expected that other interested parties will enter the scene, such as the Dutch LyondellBasell, which may resume negotiations for the stake in Braskem.
Braskem is the largest producer of thermoplastic resins in the Americas, with an annual volume of over 20 million tons, including the production of other chemical products and basic petrochemicals. The company operates 41 industrial units, located in Brazil, USA, Germany and Mexico, in the latter in partnership with the Mexican Idesa.
