Brazil - 09

Brazil: Petrobras Board Approves Sale of 25% Stake in BR Distribuidora

After nearly two months of speculation, on 17 August the Petrobras board finally agreed to sell a 25% stake in the company’s main distribution subsidiary, BR Distribuidora. Chairman Murilo Ferreira voted against the decision, as did board member Deyvid Bacelar, who represents Petrobras’ employees, but as the only two votes against the sale they were outnumbered by the rest of the board.

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