UAE - Mubasher: Brazilian antitrust body CADE has approved the sale of Landulpho Alves Refinery (RLAM) to Mubadala Capital, the financial investment arm of the UAE-based Mubadala Investment Company (Mubadala).

The transaction is still subject to the elapse of the 15-day period imposed by the law and the fulfillment of other conditions set in the share purchase and sale agreement, according to a recent press release.

In March, Mubadala Capital won the final round of a binding phase to purchase the RLAM refinery and its associated assets in Bahia in Brazil from Petrobras, a Brazilian state-owned oil company, in exchange for $1.65 billion.