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Petrobras readies sale of minority stakes in five power plants

Jun. 05, 2020 10:43 AM ETPetróleo Brasileiro S.A. - Petrobras (PBR) StockPBRBy: Carl Surran, SA News Editor
  • Petrobras (PBR +6.1%) says it has started the process of selling off stakes in five power plants in Brazil as part of its program of divesting non-core assets.
  • Petrobras seeks to sell 20%-40% stakes in the power plants located in four states, ranging from natural gas to hydroelectric, with a total installed capacity of nearly 700 MW.
  • The company wants to raise money to pay down its debt and focus its investment and development efforts on the pre-salt area offshore Rio de Janeiro and São Paulo states.

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