Petrobras kicks off auction process to sell Liquigás
SAO PAULO, June 16, 2016
Brazil's state-controlled oil company Petróleo Brasileiro has kicked off a competitive auction process to sell Liquigás Distribuidora, a subsidiary focused on the distribution and sale of liquefied natural gas.
In a securities filing, Petrobras said the process has yet to yield a tentative agreement with an interested party, though there is no timetable for the conclusion of the sale.
Liquigás, which has a 23 per cent market share in Brazil's liquefied natural gas (LNG) market, has 23 plants, 19 warehouses and a network of 4,800 resale shops across the country. --Reuters
