Brazil’s Petrobras studies sale of power plants, CEO tells brokerage

Brazil’s state-controlled oil company Petroleo Brasileiro SA (PETR4.SA) is studying the creation of a subsidiary comprised of around 15 power plants, which could then be sold through an initial public offering, analysts at XP Investimentos said in a report sent to clients on Tuesday.

Analysts at the Sao Paulo brokerage led by Gabriel Fonseca wrote the report to clients after a breakfast with Chief Executive Officer Roberto Castello Branco.

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