Petrobras Agrees Target Sales Price for Stake in BR Gas Station Chain – Sources

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.

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 . . .

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