Petrobras in talks to sell 40 pct stake in Brazil's Gasmig

SAO PAULO, July 16 Wed Jul 16, 2014 6:42pm EDT

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SAO PAULO, July 16 (Reuters) - Brazil's state-controlled oil company Petróleo Brasileiro SA is in talks to sell the 40 percent stake it owns of a Brazilian natural gas distributor to electricity holding company Cia Energética de Minas Gerais SA .

In a securities filing on Wednesday, Petrobras, as the oil producer is known, said exiting Cia de Gás de Minas Gerais SA is part of a plan to shed non-core assets. No details on the value of the stake in the gas company, which is known as Gasmig, was unveiled.

Gasmig distributes about 4.1 million cubic meters of natural gas a day in the state of Minas Gerais through a 850 kilometer-long network of integrated pipelines, the filing added.

(Reporting by Guillermo Parra-Bernal; Editing by Chris Reese)

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