BNDES pockets $5 bln from Petrobras share sale

BNDES pockets $5 bln from Petrobras share sale

Equity Capital Markets Corporate & Sovereign Strategy Economy & Policy Regulation Brazil US

Brazil's national development bank BNDES earned BRL22 billion ($5.16 billion) from the sale of its common shares in the state-owned oil company Petrobras, following similar deals for its stakes in the local power company Light and the food company Marfrig. BNDES sold 734 million common shares in Petrobras for BRL30.00 each in the secondary offering, a discount on the closing price of BRL30.48 on Wednesday, according to a securities filing from the oil company on Thursday. The sale included 168 m

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial