January 16, 2020 / 1:32 PM / 8 days ago

Brazil's Petrobras denies reports of imminent share offering of fuel distributor

FILE PHOTO: The facade of the headquarters of Petroleo Brasileiro S.A. (PETROBRAS) is pictured in Rio de Janeiro, Brazil December 9, 2019. REUTERS/Sergio Moraes/File Photo

SAO PAULO (Reuters) - Brazil’s state-run oil company Petroleo Brasileiro has denied media reports that a share offering of its full stake in fuel distribution company Petrobras Distribuidora would take place in February, according to a securities filing on Thursday.

The company, known as Petrobras, said it has initiated studies for a new share sale involving the fuel distribution company, but has not yet decided on the size and timing of the deal or hired the banks, Brazilian newspapers reported on Thursday.

Reporting by Ana Mano; Editing by Bernadette Baum

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