RIO DE JANEIRO, BRAZIL - Brazil’s state-controlled oil producer Petroleo Brasileiro SA is considering selling its remaining stake in gas station chain BR Distribuidora if its stock recovers to 26 reais a share, three people with knowledge of the information said.
For the first time since the COVID-19 pandemic stalled the sale process, Petrobras has agreed on a target stock price range for the sale of its 37.5% stake, worth R$10.3 billion (US$1.9 billion), considering its current market price.
The share sale by Petrobras would effectively end government participation over the fuel distributor . . .