UAE - Mubasher: Mubadala Capital has won the final round of a binding phase to purchase the Landulpho Alves Refinery (RLAM) and its associated assets in Bahia in Brazil from Petrobras, a Brazilian state-owned oil company, in exchange for $1.65 billion.

The signing of the purchase and sale agreement is still subject to the approval of the relevant corporate bodies, according to a recent press release.

In addition, Petrobras had received proposals to sell the Presidente Getúlio Vargas Refinery (REPAR) in Paraná, but the company decided to close the process to wait for an appropriate proposal for its economic-financial evaluation.

It is noteworthy to mention that in June 2020, Mubadala presented a binding offer for RLAM, one of eight such units that Petrobras seeks to sell to reduce debt and open fuel markets to private investors, Reuters reported.