Brazil's Petrobras board approves listing fuel distribution arm
9/28/2017 9:05:12 AM
SAO PAULO (Reuters) — The board of Brazilian state-controlled oil company Petróleo Brasileiro SA voted to list its fuel distribution unit on the São Paulo Stock Exchange, according to a securities filing on Thursday.
Petrobras will sell a 25% to 40% stake in BR Distribuidora, as the unit is known, the filing said. The transaction is subject to approval by regulators.
Reporting by Bruno Federowski; Editing by Bernadette Baum
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