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RIO DE JANEIRO, BRAZIL - In a note, the company stated that its aim was to sell 100 percent of shares held in Petrobras Uruguay Sociedad Anónima de Inversiones (PUSAI), a holding company subsidiary, and in Petrobras Uruguay Distribuición S.A. (PUDSA), an operating company in the fuel distribution segment.

According to the state-owned company, "this operation is consistent with the improvement of our portfolio and the company's capital allocation, with a view toward the generation of added value for our shareholders."

"This announcement is in accordance with Subscribe to our Premium Membership Plan. Already Subscribed?