SAO PAULO, Feb 11 (Reuters) - Brazilian fuel distribution firm Petrobras Distribuidora has contacted retailer Lojas Americanas SA and private equity manager Advent International Corp to gauge interest as it tries to find a partner for its convenience stores, two sources with knowledge of the matter said.
BR Distribudora, as the company is known, said in a securities filing on Thursday it had hired investment bank BR Partners to begin the process.
Newspaper Valor Economico reported on Monday the state-controlled company has also contacted companies such as Mexico’s Oxxo, controlled by Coca-Cola Femsa SAB de CV , convenience store chain 7Eleven Inc and private equity firm Advent. Oxxo, Advent, 7Eleven and Lojas Americanas did not immediately comment.
One source, who asked not to be identified because BR Distribuidora’s discussions were private, said the idea is to create a joint venture to operate the 1,200 convenience stories that use the BR Mania brand.
Petrobras Distribuidora two years ago explored finding a partner. Parent company Petroleo Brasileiro SA instead decided to list Distribuidora in an initial public offering in Sao Paulo. The company has not yet decided on the model for the deal.
The most probable option is selling a stake in a joint venture that would include existing stores and possibly opening new ones, It was not yet clear if BR would sell a majority or minority stake. (Reporting by Tatiana Bautzer and Ana Mano; Editing by Jeffrey Benkoe)