A Brazilian Supreme Court minister has issued a ruling that calls for the suspen...
FILE PHOTO: Brazil's state-run Petrobras oil company headquarters is pictured in Rio de Janeiro, Brazil December 5, 2018. REUTERS/Sergio Moraes/File Photo
The ruling, issued on Friday by Edson Fachin, a minister for Brazil’s STF Supreme Court, calls for the suspension of the sale of Petrobras’ TAG pipeline unit and eight of the companies’ refineries, as well as the sale of its Araucaria Nitrogenos fertilizer unit. The TAG pipeline unit sold for $8.6 billion and the firm has said the refineries could fetch some $15 billion, making these asset sales key for the firm’s deleveraging plans.
The ruling argued that the previous STJ decision contradicted a previous ruling by Ricardo Lewandowski, another minister on the STF.
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