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Petrobras sells sugar and ethanol group Sao Martinho shares for $137 million -filing


By Reuters

SAO PAULO
Petroleumworld 02 19 2018

Brazil's state-controlled oil company Petróleo Brasileiro SA on Friday said it has sold all remaining shares it owned at sugar and ethanol group São Martinho SA for 444 million reais ($137 million), according to a securities filing.

Petrobras, as the company is known, said it sold 24 million São Martinho shares representing 6.59 percent of the company's share capital at an auction in the B3 exchange in Sao Paulo. São Martinho had been a partner of Petrobras in an ethanol project in Brazil, but they split ways in 2016.

($1 = 3.2310 reais)



Reporting by Marcelo Teixeira; Editing by Lisa Shumaker from Reuters.

reuters.com 02 16 2018

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