Abu Dhabi's state-owned investment fund Mubadala Capital agreed to acquire Landulpho Alves Refinery from Petrobras, a state-owned Brazilian multinational corporation in the petroleum industry, for $1.65bn. The proposed transaction, which is subject to regulatory approval, is the first of Petrobras' planned refinery sales, equivalent to half of its 2.2mn b/d of domestic refining capacity.