Petroleo Brasileiro SA has given up on the idea of selling its Brazilian liquefied petroleum gas (LPG) unit through an initial public offering (IPO) and decided to reopen a sale process, three people with knowledge of the matter said.
The state-controlled oil company has not yet set a date for interested companies to deliver bids and is still discussing the best way to avoid problems with antitrust authorities, the sources added, asking for anonymity because talks are private.
Petrobras, as the company is known, has sounded out banks and investors for a potential IPO of Liquigas Distribuidora SA, but advisers said it would be a hard sell, especially to international investors, according to the sources. Read More
Latest posts by ET Energy World (see all)
- CEA working on optimizing power system cost for 2030 - August 20, 2018
- India to add 58,000 Mw solar power capacity in next four years: CRISIL - August 18, 2018
- India bans petcoke import for use as fuel - August 17, 2018