March 20, 2017 / 7:15 PM / a year ago

Petrobras to resume asset sales as soon as possible after court ruling

BRASILIA, March 20 (Reuters) - Brazil’s state-controlled oil producer Petróleo Brasileiro SA plans to resume planned asset sales as soon as possible following a state auditing court ruling validating the legality of the process, Chief Executive Officer Pedro Parente said on Monday.

The sale of BR Distribuidora, as the company’s fuel distribution unit is commonly known, will have to start from scratch because of the ruling, Parente told reporters in Brasilia. The resumption of the BR Distribuidora sale depends on approval by Petrobras’s board first and will be launched when a notice is sent to interested parties, he added. (Reporting by Cesar Raizer; Writing by Guillermo Parra-Bernal)

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