April 11, 2014 / 11:19 PM / in 4 years

STXNEWS LATAM-Petrobras sells 10 pct power plant stake to EDF

Petróleo Brasileiro SA, Brazil’s state-controlled oil company know as Petrobras, agreed on Friday to sell its 10 percent stake in thermal power plant Usina Termelétrica Norte Fluminense to Électricité de France SA for an undisclosed sum. Prior to the deal, the UTE plant was 90 percent-owned by EDF, Petrobras said in a securities filing. The deal is not pending any regulatory approvals.

The deal is part of Petrobras’ efforts to sell non-core assets in the next five years.

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