September 5, 2017 / 12:07 PM / 10 months ago

Petrobras fuel unit approves new bylaws ahead of planned IPO

BRASILIA (Reuters) - BR Distribuidora SA, the fuel distributing unit of Brazil’s state-controlled oil company Petróleo Brasileiro SA, approved new bylaws ahead of a planned initial public offering, the company said in a statement on Tuesday.

The logo of Brazil's state-run Petrobras oil company is seen on a tank in at Petrobras Paulinia refinery in Paulinia, Brazil July 1, 2017. REUTERS/Paulo Whitaker/File Photo

BR Distribuidora will have its shares listed on Brazil’s strictest listing market segment after the offering, Petrobras, as the company is commonly know, said in a statement. The IPO is has been expected by early December.

Reporting by Silvio Cascione

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