Brazil's Petrobras begins process to sell minority stakes in five power plants
Reuters
Published Jun 04, 2020 11:20PM ET
RIO DE JANEIRO (Reuters) - Brazilian state-run oil firm Petrobras has started the process to sell its minority stakes in five power plants throughout Brazil, it said in a filing on Thursday night.
The power plants range from natural gas to hydroelectricand are located in four states. They have a total installed capacity of almost 700 megawatts.
In the filing, Petroleo Brasileiro SA (SA:PETR4), as the firm is formally known, announced the so-called 'teaser' phase, in which certain technical information is made available to potential buyers.
For years, the company has been selling off an array of assets in a bid to reduce debt and focus on offshore oil exploration and production.
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Written By: Reuters
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