09:25 AM EDT, 07/26/2024 (MT Newswires) -- Petrobras (PBR) is finalizing due diligence for a potential bid to repurchase the Mataripe refinery from Mubadala Investment, Reuters reported Friday, citing three sources with knowledge of the details.

The company initially planned to acquire an 80% stake in the refinery, which Petrobras sold to Mubadala for $1.65 billion in 2021, Reuters quoted one source as saying. The recent change in Petrobras' chief executive officer may affect this plan, the source reportedly added.

An agreement on the structure and price of the buyback is still pending, sources familiar with the talks told Reuters.

Talks have also included offering Mubadala the original sale price plus interest and reimbursement for upgrades, two people reportedly told Reuters.

Petrobras and Mubadala did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 14.49, Change: +0.03, Percent Change: +0.21