Sete Brasil to Negotiate with Winning Company of the Auction for 4 Rigs

Written by Renato Oliveira

Published on 07/05/2019 at 01:00

Updated on 06/05/2019 at 21:06

Sondas serão negociadas com Magni Partners

Be the first to react!

Decision of the Sete Brasil Creditors’ Assembly Is to Open Negotiations to Try to Improve Magni Partners’ Proposal Regarding the Bid for the Four Drilling Rigs

In the Sete Brasil creditors’ assembly, the decision was unanimous, to try to improve the proposal of the winner company Magni Partners, concerning the package of four drilling rigs, two under construction at Brasfels, in Angra dos Reis (RJ), and two at Jurong, in Aracruz (ES).
The objective of opening negotiations is to try to improve the proposal of US$ 250 million for the purchase of the rigs Urca, Frade, Arpoador, and Guarapari.

The creditors and Sete Brasil were disappointed with the proposal, which was 54% below the previously stipulated amount (US$ 554 million), and the intention now is also to act in negotiations with the Brasfels and Jurong shipyards, as according to the creditors, the high amounts requested for the completion of the works were one of the reasons for the low value offered for the purchase of the rigs.

ARTICLE CONTINUES BELOW

The Assembly

The assembly decided to hold a new meeting on May 26, with the intention of evaluating the new proposal resulting from the negotiations.

The creditors and Sete Brasil are racing against time, as the pressure exerted by Petrobras has increased considerably, including the sending of penalty letters for delays in the delivery of the units.

The creditors’ attempt to move towards negotiation has little chance of success, as Magni Partners was the only one to present a proposal for the four rigs.

It is worth mentioning that the Brasfels shipyard, controlled by Keppels, only made a proposal for two rigs, those that are under construction, US$ 35 million for Urca and US$ 15 million for Frade.

The creditors of Sete Brasil participating in the process total 22, including the shipyards Keppel Fels and Jurong, that is, 12 shareholders (BTG Pactual, Luce, EIG Global Energy Partners, Lakeshore, Previ, Petros, Funcef, Valia, and FI-FGTS, Santander, Bradesco, and Petrobras), five banks, and five more shipyards.

ThyssenKrupp, the leading company of the Águas Azuis Consortium, winner of the Navy’s bid to build four Corvettes, intends to take control of the Oceana Shipyard in Itajaí (SC) later this year!

Sete Brasil to Negotiate with Winning Company of the Auction for 4 Rigs

Decision of the Sete Brasil Creditors’ Assembly Is to Open Negotiations to Try to Improve Magni Partners’ Proposal Regarding the Bid for the Four Drilling Rigs

The Assembly

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

Workers were opening a new road connection near the Marginal Tietê when they found, in the underground of the construction site, remnants of locomotives, wagons, and boilers from the 19th century linked to the forgotten history of Lapa.

Instead of burning or burying old tires, an American city is transforming about 2,000 of them into the street itself, paving its first sections with a quieter and more durable rubber asphalt.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Greek island offers free housing for volunteers, but there’s a condition: you need to take care of rescued cats.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China has deployed snake-shaped robots to slide along power lines, where they have already inspected over 130 kilometers of cables using cameras and sensors to detect damaged wires, worn-out parts, and overheating.

At 80 years old, Mr. Vicente opens a vendorless stall every day at 7 a.m. in the countryside of Minas Gerais, leaves, and expects customers to pay on their own for what they take, and the system has been working for 7 years.

Beach bans umbrellas for people between 10 and 65 years old, charges a fee of R$ 59 for access, and adopts measure after an incident that required evacuation of bathers amid chaos, in Italy.

A fisherman from the interior of Pará didn’t have money to buy a jet ski, so he researched everything on the internet and built one from scratch using wood, a 38-horsepower engine, and an adapted bicycle handlebar.

The part that can destroy your engine doesn’t warn when it’s going to break, ages even when idle, and has a different lifespan for each car.

“I’m sorry we came to the beach so little”: German Shepherd fulfills all his dreams on his last day of life after facing tumors, kidney failure, and resisting euthanasia for more than 3 years.

Sete Brasil to Negotiate with Winning Company of the Auction for 4 Rigs

Decision of the Sete Brasil Creditors’ Assembly Is to Open Negotiations to Try to Improve Magni Partners’ Proposal Regarding the Bid for the Four Drilling Rigs

The Assembly

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

Workers were opening a new road connection near the Marginal Tietê when they found, in the underground of the construction site, remnants of locomotives, wagons, and boilers from the 19th century linked to the forgotten history of Lapa.

Instead of burning or burying old tires, an American city is transforming about 2,000 of them into the street itself, paving its first sections with a quieter and more durable rubber asphalt.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Greek island offers free housing for volunteers, but there’s a condition: you need to take care of rescued cats.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China has deployed snake-shaped robots to slide along power lines, where they have already inspected over 130 kilometers of cables using cameras and sensors to detect damaged wires, worn-out parts, and overheating.

Government announces R$ 370 million for those who preserve the forest and an unprecedented initiative places traditional Amazonian communities at the center of conserving a vast area.

A family from Martins, in the interior of RN, planted seeds in their backyard that no one remembered where they came from and harvested a green and yellow fruit resembling the Brazilian flag; the nickname “World Cup pumpkin” caught on before they discovered what had actually grown there.

Most people use a tape measure their whole lives without ever understanding why some numbers are painted red; the explanation lies in a 16-inch spacing that is invaluable for those who work with walls and wood.

Without ATMs, with social networks blocked and travel controlled by the government, Eritrea challenges the modern world and reveals why it is called the “North Korea of Africa.”

Single wives in the “Little Italy” of Africa live decades without their husbands and support entire families after frustrated promises of migration to Europe.

At 80 years old, Mr. Vicente opens a vendorless stall every day at 7 a.m. in the countryside of Minas Gerais, leaves, and expects customers to pay on their own for what they take, and the system has been working for 7 years.

Beach bans umbrellas for people between 10 and 65 years old, charges a fee of R$ 59 for access, and adopts measure after an incident that required evacuation of bathers amid chaos, in Italy.

A fisherman from the interior of Pará didn’t have money to buy a jet ski, so he researched everything on the internet and built one from scratch using wood, a 38-horsepower engine, and an adapted bicycle handlebar.

The part that can destroy your engine doesn’t warn when it’s going to break, ages even when idle, and has a different lifespan for each car.

“I’m sorry we came to the beach so little”: German Shepherd fulfills all his dreams on his last day of life after facing tumors, kidney failure, and resisting euthanasia for more than 3 years.