Bloomberg News

Petrobras Buys Frere’s 50% Stake in Texas Refinery, Tijd Reports

July 04, 2012

Petroleo Brasileiro SA (PETR4), known as Petrobras, paid $820.5 million for the Frere group’s 50 percent stake in the Texas oil refinery Pasadena Refining Systems, Belgian newspaper De Tijd reported.

The stake was held through energy trader Transcor Astra, which is 80 percent owned by Albert Frere’s Cie. Nationale a Portefeuille SA and 20 percent by its staff, according to the newspaper, which didn’t say where it got the information.

To contact the reporter on this story: Jennifer M. Freedman in Geneva at jfreedman@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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