Rio De Janeiro — Brazilian state development bank BNDES has informed Petrobras that it is considering selling up to all of the ordinary shares it holds in the state-run oil firm via a secondary offering, according to a securities filing on Friday.
In the filing, Petroleo Brasileiro SA, as the firm is formally known, said that BNDES held nearly 10% of Petrobras ordinary shares as of Nov. 30. BNDES’ intention to reduce its stake in Petrobras is widely known. However, there has been debate at BNDES as to how it will go about reducing its stake.
- Reuters
