Arab Fund Mubadala Takes Over Invepar’s Billion-Dollar Debt And Gains Control Of Rio de Janeiro’s Subway

In Addition To Taking Over The Rio Metro, The Arab Fund Mubadala Purchased The Landulpho Alves Refinery, Which Belonged To Petrobras, For US$ 1.65 Billion

The Mubadala, an investment fund from the United Arab Emirates, took control of the Metroviária Concessionaire of Rio de Janeiro, MetrôRio, yesterday (11/08), replacing Invepar. 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 Metro Was Previously Under The Control Of Investimentos E Participações Em Infraestrutura S.A (Invepar), The Majority Shareholder Of São Paulo International Airport In Guarulhos.

According To Globo Columnist Ancelmo Gois, The Arab Fund Helped Restructure The R$ 2.5 Billion Debts Of Invepar In September. In Exchange, It Was Agreed That Invepar Would Give Up The Metro And The Yellow Line Concession.

However, In The Case Of The Yellow Line, Approval From The City Hall Of Rio And The STF Is Necessary, Where The Case Went After Former Mayor Crivella Attempted To Capitalize On The Toll For The Road.

Invepar, Which Is Now Focusing On Guarulhos Airport, Entered A Crisis Due To Problems With OAS, Which Had To Leave The Partnership After The Lava Jato Operation, Leaving It In The Hands Of A Group Of Pension Funds.

Mubadala Group Acquired From Petrobras The RLAM Refinery In Bahia For US$ 1.65 Billion

The Mubadala Recently Approved The Purchase Of A Brazilian Refinery. The Plant Belonged To Petrobras And The Transaction Amount Was US$ 1.65 Billion. The RLAM Started Operating In 1950 And Has The Capacity To Process 330,000 Barrels Of Oil Per Day.

In Addition To The RLAM, The Sale Included 669 Km Of Pipelines That Are Part Of The Refinery’s Network, Including Short Pipelines (Becan 6”, Becan 8”, And 21 Oil Pipelines Connecting The RLAM To The Madre De Deus Terminal) And Long Pipelines (ORSUB, Connecting The RLAM To The Jequié And Itabuna Terminals; ORPENE L1/14”, ORPEN 12”, And ORPENE 8”, Connecting The RLAM To The Camaçari Petrochemical Complex).

Odebrecht Articulates The Sale Of The Petrochemical Braskem To Mubadala, The Sovereign Fund Of The United Arab Emirates

The Petrochemical Braskem, A Company Of The Novonor Group – Formerly Odebrecht, Is In The Crosshairs Of Acquisition By The Sovereign Fund Of The United Arab Emirates, Mubadala. The Negotiations Are Regarding The Purchase Of 50.1% Of The Company, Which Is Part Of The Judicial Recovery Program Of Odebrecht/Novonor.

Petrobras, Which Owns The Remaining Shares Of Braskem, Seems To Be In Favor Of 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, Other Interested Parties Are Expected To Come In, 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 Exceeding 20 Million Tons, Including The Production Of Other Basic Chemical And Petrochemical Products. The Company Operates 41 Industrial Units Located In Brazil, The USA, Germany, And Mexico, The Last In Partnership With The Mexican Idesa.