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Brazil’s Petrobras yet to decide date for Braskem share offering

Brazil's Petrobras yet to decide date for Braskem share offering
© Reuters. FILE PHOTO: People walk in front of Brazil’s state-run Petrobras oil company headquarters in Rio de Janeiro, Brazil, October 16, 2019. REUTERS/Sergio Moraes/File Photo

SAO PAULO (Reuters) – Brazilian state-run oil company Petrobras on Thursday said it has not yet reached a decision on when it will sell its stake in petrochemicals producer Braskem SA (NYSE:BAK) but reiterated that it still expects to do so.

The remarks came after the O Estado de S. Paulo newspaper reported that the company, formally known as Petroleo Brasileiro SA, and Brazilian conglomerate Novonor are expected to start selling their stakes through a share offering in February.

Source: Investing.com

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