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Business News Americas: Petrobras buys Shell downstream assets – Brazil, Paraguay

(BNamericas.com) – Brazil's federal energy company Petrobras (NYSE: PBR) has bought the downstream operations of Anglo-Dutch oil company Shell (NYSE: RDS-B) in neighboring Paraguay for an unspecified amount, Petrobras said in a statement. The transaction covers Shell's fuel commercial and retail operations including service stations, liquefied petroleum gas (LPG) outlets and outlets for the sale of aviation fuel in Paraguayan airports, Petrobras said.
The company will keep Shell's Paraguayan staff and the takeover will be complete in 18 months, Petrobras said.
Petrobras said that the acquisition is in line with its expansion strategy in South America. Chile is now the only country in which Petrobras is not directly operating. – (BNamericas.com)

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