July 3, 2018 / 12:28 PM / a year ago

Petrobras suspends asset sales after court decision about privatization - filing

SAO PAULO, July 3 (Reuters) - Brazil’s state-run oil company Petroleo Brasileiro SA said in a securities filing on Tuesday it suspended some asset sales after a Supreme Court decision ruled privatization processes must be approved by the nation’s Congress.

While evaluating what legal actions to take, Petrobras decided to suspend the sale of its refineries, of the gas pipeline company Transportadora Associada de Gas and also of the Araucaria fertilizer factory.

Reporting by Carolina Mandl Editing by Chizu Nomiyama

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