MOSCOW (MRC) -- Brazil's state-run oil company, Petroleo Brasileiro SA, said on Tuesday in a securities filing that a group of investors is suing two of its subsidiaries in a court in the Netherlands, reported WorldNews.
The Stichting Petrobras Compensation Foundation, a Netherlands-based claim foundation, alleges investors had losses with shares in Petrobras, as the company is known, due to the largest-ever corruption investigation in Brazil involving the company.
Petrobras said in the filing that "Brazilian authorities recognize the company was a victim" of the corruption scheme.
As MRC informed before, Petrobras is seeking to sell its 5.8 billion Brazilian real (USD1.4 billion) stake in petrochemical producer Braskem SA. Petrobras has hired Brazilian bank Banco Bradesco SA as a financial adviser and has started to pitch the sale to foreign investors. Petrobras owns a 36 percent stake in Braskem, Latin America's largest petrochemical producer. The sale would help Petrobras meet its target of selling USD15.1 billion worth of assets in 2015-16, a key part of its plan to cut debt as oil prices plunge to 12-year lows.
Headquartered in Rio de Janeiro, Petrobras is an integrated energy firm. Petrobras' activities include exploration, exploitation and production of oil from reservoir wells, shale and other rocks as well as refining, processing, trade and transport of oil and oil products, natural gas and other fluid hydrocarbons, in addition to other energy-related activities.
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