March 29, 2019 / 12:20 PM / 24 days ago

Brazil state-run oil firm Petrobras puts LPG distribution unit on the block

RIO DE JANEIRO, March 29 (Reuters) - Brazilian state-run oil firm Petroleo Brasileiro SA has begun the teaser phase for the sale of its liquefied petroleum gas distribution unit, known Liquigas Distribuidora, the firm said in a filing on Friday.

The teaser phase is the first step in the divestiture process. In February, Reuters reported that Petrobras, as the firm is widely known, had hired the investment banking unit of Banco Santander Brasil SA to revive the sale.

Reporting by Gram Slattery Editing by Chizu Nomiyama

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