Bolsonaro mulls Petrobras Distribuidora sale

Brazil

RIO DE JANEIRO, November 14, 2018 – Brazilian president-elect Jair Bolsonaro is assessing the possibility of further privatising NOC Petrobras’ distribution arm, international media reported Tuesday.

Vice-president-elect Hamilton Mourão revealed the plans to a New York investor conference, triggering a more than 6% value increase for Petrobras Distribuidora shares, Reuters reported.

Petrobras Distribuidora held an IPO on the Brazilian stock exchange last December, raising BRL 5.02 billion (USD 1.35 billion) through the sale of 30% of its shares. The company distributes products including petrol, diesel and lubricants through a network of around 8,000 petrol stations throughout the country.

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