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Sao Martinho SA (SMTO3.SA)

SMTO3.SA on Sao Paolo Stock Exchange

18.19BRL
25 May 2017
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Thu, Dec 15 2016

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Petrobras to sell ethanol unit stake to Sao Martinho for $133 million in shares

SAO PAULO Brazil's oil company Petróleo Brasileiro SA has agreed to sell its 49 percent stake in the sugar and ethanol joint venture Nova Fronteira Bioenergia SA to partner São Martinho SA , both companies said in securities filings on Thursday.

Exclusive: Petrobras to sell stake in Nova Fronteira ethanol venture - source

SAO PAULO State-controlled Petróleo Brasileiro SA on Thursday will sign a deal to sell its 49 percent stake in Nova Fronteira Bioenergia SA to partner Sao Martinho SA for up to 500 million reais ($150 million), a person directly involved in the transaction said on Wednesday.

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