EBR Staff Writer
Published 28 August 2017
Petróleo Brasileiro (Petrobras) will go ahead with a corporate restructuring in BR Distribuidora which will include a capital contribution of nearly R$6.3bn ($2bn) and a partial spin-off of its fuel distribution arm.
The decision from the Brazilian state-run oil company comes after an approval of the plans by its board of directors.
BR is into distribution and marketing of petroleum derivatives and biofuels in Brazil and Latin America.
Petrobras stated: Partial split-off of BR, which consists in the separation of the receivables held by BR resulting from debt acknowledgement agreement with the Eletrobras Sys…
Read the full article at: http://drillingandproduction.energy-business-review.com/news/petrobras-to-inject-2bn-in-br-distribuidora-restructuring-280817-5909636