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Petrobras Offers 3.5 Billion Euros for Galp Stake, Diario Says

Petroleo Brasileiro SA, Brazil’s state-controlled oil company, is offering about 3.5 billion euros ($4.7 billion) for Eni SpA’s 33 percent stake in Portuguese oil company Galp Energia SGPS SA, Diario Economico reported, without saying how it obtained the information.

That value is lower than the 4.7 billion euros that Eni seeks to obtain for its holding in Galp, the Portuguese newspaper said.