Meet The Petrobras Companies Cleared For Sale By The Supreme Federal Court.

Written by Paulo Nogueira

Published on 10/06/2019 at 01:00

Updated on 08/06/2019 at 15:15

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The STF Plenary Decided This Friday, June 7, to Waive Legislative Approval and Bidding for the Sale of Subsidiary Companies and Mixed Economies.

The decision applies to companies belonging to energy holdings such as Petrobras and Eletrobras. However, it does not apply to the holdings themselves, which – according to the decision – need authorization from the National Congress to be sold. The main affected party in the STF’s decision is Petrobras. The company has sold and intends to sell some of its most important subsidiaries. A contrary decision from the STF could delay or even prevent – depending on the decision of deputies and senators – the sale of some companies.

Ibovespa Operates Up After STF Decision on State-Owned Enterprise Sales

The main indicator of the São Paulo stock exchange, B3, closed up this Friday, 7, after rising more than 1% the day before, favored by positive sentiment abroad and favorable repercussions of the STF decision that waives prior approval from the National Congress for the sale of controlling shares in subsidiaries of state-owned companies.

ARTICLE CONTINUES BELOW

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

The Technical Agenda and the Fair in the City of Macaé Should Boost Discussions on Investments, Energy Transition, and Development of the Oil, Gas, and Energy Chain in the National...

Paulo Nogueira

Ibovespa ended the trading session up 0.63%, at 97,821 points. Petrobras advanced almost 2.72%, with the market assessing that the STF decision represents an important safeguard for the continuity of the state-owned company’s divestment program. Estácio led the day’s gains, rising 7.44%.

Check Below the Companies That Petrobras May Sell

Petrobras Distribuidora
Petrobras Biocombustível
Liquigás
Breitener Energética, UTEs
Logum Logística SA
Petrobras Logística de Gás S.A. and TBG

See the Complete List of Petrobras’s Shareholdings

by epbr

Meet The Petrobras Companies Cleared For Sale By The Supreme Federal Court.

The STF Plenary Decided This Friday, June 7, to Waive Legislative Approval and Bidding for the Sale of Subsidiary Companies and Mixed Economies.

Ibovespa Operates Up After STF Decision on State-Owned Enterprise Sales

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Check Below the Companies That Petrobras May Sell

See the Complete List of Petrobras’s Shareholdings

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