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Brazil's state-run energy company, Petrobras, plans to sell a controlling stake in its fuel distribution subsidiary, BR Distribuidora, as part of its capital-raising efforts and debt reduction strategy. The sale is crucial for Petrobras to regain investor confidence. BR Distribuidora operates approximately 7,500 gas stations across Brazil. Despite earlier attempts to sell a minority stake, the company now seeks a buyer for a controlling interest in the subsidiary.
Thursday, 21 July, 2016