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Brazil Wants Samsung to Buy Control of EAS Shipyard, Valor Says

March 5 (Bloomberg) -- Brazilian President Dilma Rousseff endorsed Petroleo Brasileiro SA Chief Executive Officer Maria das Gracas Foster negotiations with Samsung Heavy Industries Co. for the South Korean company to buy the control of Estaleiro Atlantico Sul SA, Valor Economico reported, without saying where it obtained the information.

The Brazilian government is concerned EAS is not meeting deadlines to deliver orders from Petrobras, which may compromise the state-controlled oil producer output targets, the Sao Paulo-based newspaper said.

Samsung has currently a 6 percent stake in the shipyard, Valor said. The main partners at the shipyard, Camargo Correa SA and Queiroz Galvao SA, declined to comment, Valor said. EAS denied change in control, according to the newspaper.

Story Link:{NSN M0EQF56TTDSA<GO>} Link to Company News:{010140 KS <Equity> CN <GO>} Link to Company News:{899180Z BZ <Equity> CN <GO>} Link to Company News:{PETR4 BZ <Equity> CN <GO>} Link to Company News:{0200031D BZ <Equity> CN <GO>}

To contact the reporter on this story: Telma Marotto in Sao Paulo at tmarotto1@bloomberg.net

To contact the editor responsible for this story: Helder Marinho at hmarinho@bloomberg.net

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