The Petrobras Board of Directors has approved the initial public offer (IPO) of shares in fully-owned subsidiary Petrobras Distribuidora S.A. (BR).
In line with the best practices of corporate governance, this move is aimed at listing BR on the special securities segment of B3. Pursuant to the applicable legislation, all the necessary formalities to launch the IPO will be subject to the approval of in-house authorities of both Petrobras and BR, and the examination and approval of the respective regulatory authorities. PWKD13072017
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