Petrobras stake sale raises 7.3 billion reais for Brazil lender Caixa

Caixa Economica Federal raised about 7.3 billion reais (S$2.57 billion) by selling a stake in oil and gas giant Petroleo Brasileiro SA (Petrobas) as Brazil’s biggest state-owned lender works to help the government reduce its debt.

Caixa sold about 241.3 million shares at 30.25 reais apiece, according to a person familiar to the matter who asked to not be identified because the matter isn’t public yet. The offering in Brazil and New York included only ordinary shares, the ones with voting rights.

Continue reading

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.