Brazil’s Petrobras plans to sell remaining stake in BR Distribuidora -filing

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BRASILIA — Brazilian state-run oil firm Petroleo Brasileiro SA has informed BR Distribuidora of its plans to sell its remaining 37.5% stake in a follow-on public offering, Petrobras said on Friday in a filing.

“This operation is in line with the optimization of the portfolio and the improvement of the company’s capital allocation, aiming at generating value for its shareholders,” Petrobras said.

BR Distribuidora SA is Brazil’s leading fuel distribution company.

(Reporting by Anthony Boadle; Editing by Leslie Adler)