BNDES sold stake in Petrobras, Brazil gets $5.2 billionChristian Fernsby ▼ | February 7, 2020
The Brazilian state development bank (BNDES) unloaded its voting stake in oil giant Petroleo Brasileiro SA, raking in 22 billion reais ($5.2 billion) as part of a wave of asset sales aimed at reversing years of growing government influence in Latin America’s biggest economy.
Business in Brazil BNDES sold all 734 million shares
Topics: BNDES Petrobras Brazil
That’s a discount of less than 2 percent to the closing price, an indication that demand held up well in the face of sinking crude prices. Shares rose more than 1 percent in early trading today to top the offering price. ■