Caixa peddles Petrobras stake

Caixa peddles Petrobras stake

Equity Economy & Policy Capital Markets Energy Politics Brazil US

Caixa Econômica Federal could earn more than BRL6.42bn ($1.65bn) from the sale of its 3.2% stake in the state-owned energy company Petrobras on June 25, according to a securities filing. The federal savings bank plans to offload its 241m shares in Petrobras in a secondary offering led by Caixa itself with UBS, Morgan Stanley, Bank of America and XP Investimentos, Petrobras said in the filing. Petrobras did not announce the sale before the Supreme Court lifted an injunction that required state-

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