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Brazil: Petrobras sets June deadline for Liquigas offers

By  |  May 27, 2019

Brazilian state-controlled oil company Petroleo Brasileiro SA has set a June 7 deadline to receive non-binding proposals for its liquefied petroleum gas (LPG) distribution unit Liquigas, one source with knowledge of the matter said.

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    Petrobras, as the oil company is known, has been selling assets to reduce debt and re-focus on offshore exploration and production.

    This is Petrobras’ second attempt to sell Liquigas. In 2016, Petrobras agreed to sell it to Ultrapar Participações SA for 2.8 billion reais ($696 million), but the deal was blocked by Brazil’s antitrust watchdog Cade.

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