Swedish fintech company KEO Capital AB has entered into a definitive agreement with Novonor Latinvest Energy S.a.r.l. to acquire a 16% indirect stake in Venezuelan oil producer Petourdaneta. This is reported in a press release from KEO Capital.
As part of the deal, KEO Capital increases its stake in Petourdaneta to 40% for $37.5 million and plans to separate the energy division from the company's structure into an independent KEO Energy business, focusing exclusively on fintech.
Petourdaneta is a joint venture between the Venezuelan state-owned company PDVSA (60%) and a subsidiary of Novonor (40%). The deal consolidates KEO's control over Novonor's stake in Petourdaneta.
The transaction is expected to be completed soon in accordance with the usual closing conditions until November 30, 2026.
KEO Capital AB is a Swedish fintech company developing digital solutions for corporate finance management. The company's market capitalization is 3.79 billion Swedish kronor. The headquarters is located in Stockholm (Sweden).
Petourdaneta is a joint venture between PDVSA state—owned company (60%) and Novonor subsidiary (40%). The joint venture is developing fields in northwestern Venezuela.
Novonor Latinvest Energy S.a.r.l is a Luxembourg—based company within the Brazilian conglomerate Novonor (formerly Odebrecht). The company manages the group's energy assets, including the oil and gas production sector.
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