Petrobras starts sale of Colombian fuel business

Petrobras starts sale of Colombian fuel business

M&A Equity Corporate & Sovereign Strategy Economy & Policy Energy Gas Brazil Colombia Andean

Brazil's state-owned oil company Petrobras said on Friday that it has started the sale process for its fuel distribution business in Colombia, Petrobras Colombia Combustibles, also known as Pecoco. Petrobras has hired UBS as its financial adviser on the sale and asked for potential bidders to prove they meet the eligibility requirements by April 17. Prospective bidders must have at least $100 million in net revenues, shareholders equity or assets under management to make an offer for Pecoco, Pet

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