RIO DE JANEIRO (Reuters) - Brazil’s development bank BNDES is mulling strategies to sell its stakes in listed companies such as state-controlled oil company Petrobras SA (PETR4.SA), two sources with knowledge of the matter said on Thursday.
As discussions are still ongoing, BNDES may start divestments only next year, the sources added.
BNDES, which has nearly 110 billion reais ($27.23 billion) in listed assets, has been considering either a direct sale of shares through its treasury desk or share offerings, the sources said.
Chief Executive Officer Gustavo Montezano is looking to expedite the sale of BNDES’ listed assets in order to pay back 126 billion reais in debt to Brazil’s government by the end of this year.
In August, Montezano reaffirmed the bank will return this amount to the government coffers.
BNDES declined to comment on its divestment strategy.
Reporting by Rodrigo Viga Gaier, in Rio; Editing by Marguerita Choy