November 12, 2019 / 10:56 PM / 7 months ago

Brazil's Petrobras begins sale process of distribution unit in Uruguay - filing

SAO PAULO, Nov 12 (Reuters) - Brazilian state-run oil firm Petroleo Brasileiro SA, known as Petrobras, has begun the sale process of fuel distribution, lubricant and fertilizer assets in Uruguay, it said in a securities filing on Tuesday.

Petrobras, as the company is known, plans to sell 100% of shares in Petrobras Uruguay Distribuición S.A. (PUDSA), it added. The divestment is part of broader efforts to optimize its portfolio and better allocate capital, according to the filing. (Reporting by Gabriela Mello)

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