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Petrobras

Brazil’s government aims to divest $20 bln in 2019

SãO PAULO, January 30, 2019 – The Brazilian government is looking to earn at least USD 20 billion this year through divestments of state-owned assets, including those under NOC Petrobras, international media reported Tuesday.

 

According to the country’s secretary of privatisation, Salim Mattar, most of Petrobras’ 36 subsidiaries are being considered for sale. The government is also planning further privatisation of partially state-owned power company Eletrobras, Reuters reported.

Due to the creation of a department in Brazil’s audit court focusing on sales of government-controlled assets, Mattar said each divestment could be completed within 120-150 days.

The planned divestments are part of a larger government strategy aimed at reducing Brazil’s debt-to-GDP ratio, which stands at around 77%.

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