Brazil's Petrobras will not sell distribution arm -board member
SAO PAULO, March 31 (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA will not sell its distribution arm BR Distribuidora as part of its plan to sell assets to raise cash, company board member Silvio Sinedino said on YouTube on Tuesday.
Sinedino also pointed to potential conflicts of interest on the company's next board, citing the nomination of Vale SA Chief Executive Murilo Ferreira to be chairman and the presence of Brazil's national development bank BNDES President Luciano Coutinho, who is already a board member.
Shareholders will vote on Ferreira's nomination on April 29. (Reporting by Roberto Samora; Editing by Meredith Mazzilli)
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