Petrobras has agreed to sell a 49% stake in a joint venture.
The firm will sell it to Sao Martinho and receive 24 million in shares as a payment for the stake.
Earlier this week it was reported the companies would sign an agreement, valuing the stake up to $148million.
The sale is one of the five ongoing transactions that Brazil’s federal auditing court did not prohibit Petrobras from doing in a recent decision which halted an asset-sale process.
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