Videocon Industries and Bharat Petroresources Ltd, a wholly owned subsidiary of Bharat Petroleum Corporation Ltd, has acquired Brazil’s EnCana Brasil Petroleo Limitada for $283 million. Videocon and Bharat Petroresources will pay $165 million for the acquisition and another $118 million as reimbursement for EnCana’s expenses since January 1, 2007.
The world now realizes how profitable these Brazilian oil companies can be...
2 comments:
do you think Brazil is likely to revert back to protectionism once it realises that too many companies are getting a share of their oil-derived wealth?
I think it is highly unlikely that Brazil will revert to such a system. I think the benefits of liberalising the economy outweigh the advantages of completely nationalising the industry for the benefit of the people. Essentially, FDI is a key requirement to make the industry grow and thus reap the fruits it has to offer.
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