Deals
Brazilian M&A Picks Up as Asians Seek Cheaper Oilfields
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Brazilian energy acquisitions, on a steady decline after a record $57 billion deals in 2010, are showing signs of a revival, led by Chinese and Malaysian state-owned buyers seeking lower valuations for offshore oil fields.
Malaysia’s Petroliam Nasional Bhd. agreed May 7 to buy assets in the Campos basin from a company billionaire Eike Batista controls. China National Petroleum Corp. is in talks to acquire Barra Energia Petroleo e Gas, a Brazilian oil startup, for about $2 billion, people with knowledge of the matter said.