Petrobras close to shedding stake in LPG unit

摘要

Brazil’s state-controlled Petrobras is in advanced talks with Brazilian fuel distributor Ultrapar over the sale of a stake in its LPG subsidiary Liquigas, the firm says. The sale could earn Petrobras up to 2.5bn reals ($785mn), based on the sale of a 100pc stake, and would give Ultrapar a leading position in Brazil’s LPG market. Petrobras first announced its decision to sell part of Liquigas in June, but has not said how much of the unit it is looking to divest. The firm remains around $5bn short of its $14.4bn divestment goal for this year. It sold around $700mn of mainly midstream natural gas assets in 2015.