Galp Talks Up Brazilian Sale As Cash Concerns Take Centre Stage

Portugal's Galp Energia is inching closer to a sale of a stake in its Brazilian assets in order to raise funds. Galp's objective is to raise around EUR2bn (US$2.8bn), the company's CFO, Claudio de Marco, said during a presentation to analysts in Rio de Janeiro on March 14 2011, stating that Galp's preference was to do this by selling a stake in its Brazilian subsidiary Petrogal Brasil.

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