Petrobras to sell 25% of BR Distribuidora

The Petrobras directors' board approved the sale of 25 percent of the shares of one of its subsidiaries, BR Distribuidora. Today, all of the shares of the fuel supply company are controlled by the state-controlled oil giant.

According to a note released today (Aug. 18), the decision was made during a council meeting  on August 6, and Petrobras has filed a registration request at the Securities and Exchange Commission of Brazil (CVM) for the sale of a quarter of the fuel unit's share capital.

Translated by Fabrício Ferreira