Petrobras to sell stake in Metanor

Petrobras to sell stake in Metanor

Corporate & Sovereign Strategy Economy & Policy Equity M&A Brazil Capital Markets Energy

Brazilian state-run oil company Petrobras has sent out teasers to sell its stake in petrochemical producer Metanol do Nordeste (Metanor), according to a securities filing. Petrobras holds 34.5% of Metanor, including 50% of common shares and 26.9% of preferred shares, while Dexxos Par has 45.5% with the other 50% of common shares and 43.2% of preferred shares. Other shareholders have 20% of Metanor but do not have voting rights, according to Petrobras. Dexxos said it has the right of first refusa

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