Petrobras hires services of financial JPMorgan

Amid the conflict of ideas involving the bidding process between Petrobras and Novonor (braskem's controlling shareholder), the state-owned company hired the world leader in financial services, JPMorgan, to be at the forefront of business related to sales of the Braskem refinery.

The hiring of the management company is another step towards achieving the success of Petrobras' deinvestment project, which aims to raise about US$ 25 billion to US$ 35 billion, with initiatives such as the transfer of 8 refineries, in the period 2021 to 2025.

In October last year, the National Congress came to question the transfer process, claiming that this could be part of a privatization plan of the national company, but the Supreme Court (Supreme Court) considered that the complaint was not valid, because the negotiations were within acceptable standards and did not go against the 2019 agreement (which determines the need for authorization of deputies and senators in the process of privatization of state).

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