Petróleo Brasileiro SA is set to sell its stake in Nigerian Oil and Gas Assets for USD$1.3 billion to a consortium led by Vitol SA who emerged winner from a number of bidders. Petrobras owns 50 percent of Petrobras Oil & Gas BV, or Petrobras Africa, Grupo BTG Pactual SA holds a 40 percent stake in the venture and Helios Investment Partners owns the remaining 10 percent. All the three shareholders would sell their stakes, valuing the venture at USD$2.6 billion.
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