Petrobras sells stake in BR Distribuidora via shares

Petrobras announced that it will sell its entire remaining 37.5% stake in BR Distribuidora via secondary public offering of shares. The announcement was made on Thursday night (10).

The sale was approved by the board of directors of the state-owned company, which chose not to make the offer through an auction. In addition, the transaction is subject to market conditions and will still be analyzed by the Brazilian Securities and Exchange Commission (CVM) and other regulatory bodies.

The offer will also be approved by Petrobras' internal bodies. According to the announcement, the amount to be collected from the sale will depend on the result of the pricing of the transaction.

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