Grepar Participacoes, backed by Grecor Investimentos, Greca Distribuidora de Asfaltos and Holding GV agreed to acquire LUBNOR, an asphalt refinery, from Petrobras, a state-owned Brazilian multinational corporation in the petroleum industry, for $34m. "This operation is in line with the company's portfolio management strategy and the improved allocation of its capital, aiming to maximize value and provide greater return to society. Petrobras continues to increasingly concentrate its resources on assets that have shown great competitive edge over the years, with lower greenhouse gas emissions," Petrobras.