Petrobras unveils offer of BR Distribuidora shares to market

On Wednesday (Jul 3), Petrobras announced the offer of part of its shares at Petrobras Distribuidora S.A. (BR Distribuidora). The company notified the market, but the request will still be considered by the Securities Commission for approval.

“The basic offer of shares will be 25 percent, and may reach 33.75,” the state-controlled giant reported.

In May, Petrobras’s board approved the way the company will sell its majority shares at BR Distribuidora in the stock market. After the sales, Petrobras will have less than 50 percent of shares.