November 17, 2016 / 1:12 PM / a year ago

Petrobras to announce sale of gas distribution unit to Ultrapar -source

SAO PAULO, Nov 17 (Reuters) - Brazil’s state-run oil company Petroleo Brasileiro SA is close to announcing the sale of its liquified petroleum gas distribution unit Liquigás Distribuidora SA to industrial group Ultrapar Participações SA , a source close to the matter told Reuters.

Petrobras, as the company is known, will receive around 2.8 billion reais ($822 million), the source said. The deal may be announced as soon as this week. Brazilian newspapers O Estado de S. Paulo and Valor Econômico reported the deal closing earlier on Thursday. ($1 = 3.4072 reais) (Reporting by Tatiana Bautzer; Editing by Chizu Nomiyama)

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