- Petrobras (NYSE:PBR) says it may consider selling part of its domestic gasoline distribution subsidiary in an effort to cut its massive debt.
- PBR says options include searching for a strategic partner for the unit or selling its shares on the Brazilian stock exchange.
- Petrobras Distribuidora operates gas stations across Brazil, accounting for 38% of the total Brazilian retail and wholesale distribution market for fuels, ethanol, biodiesel and natural gas; in 2014, it posted net income of $481M and had $4.57B in stockholders equity, making it PBR's second largest subsidiary.