August 25, 2017 / 12:12 PM / in 2 months

Petrobras to make $2 bln capital injection into fuel distribution arm

SAO PAULO, Aug 25 (Reuters) - Brazil’s state-run power company Petroleo Brasileiro said on Friday it will make a 6.3 billion real ($2 billion) capital injection into its wholly-owned fuel distribution arm Petrobras Distribuidora SA.

The money from the capital injection, approved by the board of the company, will be entirely used to prepay Petrobras Distribuidora’s debts guaranteed by Petrobras, the company said in a securities filing. ($1 = 3.1475 reais) (Reporting by Ana Mano; Editing by Chizu Nomiyama)

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