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Petrobras should receive US$2.2 billion from sale of remaining 37.5% of former subsidiary

RIO DE JANEIRO, BRAZIL - Brazilian oil company Petrobras will receive about R$11.356 billion (US$2.2 billion) for 37.5% of its shares in BR Distribuidora, a former subsidiary whose control it sold in 2019 as part of its ambitious divestment plan.

The price of the papers of Brazil's largest distributor put up for sale by Petrobras was defined on Wednesday, June 330, based on the price at which it closed on the São Paulo stock exchange and on the offers made by those interested in the shares, which exceeded R$30 billion (US$6 billion . . .

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