Sinopec Pays Galp $5.2B for Brazil Stake

摘要

China's Sinopec added to its growing Brazilian portfolio with a $5.2 billion deal that will see the company acquire a 30% stake in Portugal-based Galp Ener- gia's Brazilian assets, including a share of the giant Lula field. The Chinese state energy group an- nounced Friday that it will take a 30% equity stake in Galp's Petrogal Brasil sub- sidiary by buying new shares and assum- ing existing debt.