Petrobras finalizes equity raise in Guarani

In Brazil, Petrobras has instead of selling off its ethanol assets in a fire sale meant to help secure cash to pay off mounting debts has raised its shareholding in Guarani to 45.9% with a $69.7 million capital injection. The investment was part of an original agreement to boost shareholding and was agreed on the last possible day allowed by the deal. The final payment of the capital injection will be made no later than Jan. 5, 2016.

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