Brazil's state-controlled Petrobras, still reeling from the
Lava Jato corruption scandal and its monumental debt obligations,
is banking on offloading subsidiaries and assets to restore its
fortunes. The firm will pursue a 2023 divestment target of $26.9bn,
focusing on its untapped deep-water pre-salt reserves and returning
the company to financial health.
(...)
"Should the decree's suspension or revocation be
confirmed, the most immediate impact will be the uncertainty
introduced into ongoing and new divestments, as [it will raise
questions] to the legitimacy of the procedures followed to date and
the ones to be followed after the Supreme Court's
decision," says Ali El Hage
Filho, a partner at Brazilian law firm Veirano
Advogados.
