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Citigroup tops 8-bank group for Petrobras fuel distribution unit IPO

Between 30-35% of BR Distribuidora could be sold in IPO by Nov, could be last market window of 2017

Reuters  |  Sao Paulo 

Citigroup Inc and seven other banks will underwrite the initial public offering of Petroleo Brasileiro SA's fuel distribution unit, which will likely occur in November, a person with direct knowledge of the plan said. Petrobras, as Brazil's state-controlled oil company is known, is considering whether to list BR Distribuidora SA in Sao Paulo and New York, where a growing number of investors have shown interest in the transaction, said the person, who spoke on Thursday and asked for anonymity in order to discuss the plan freely. Petrobras has stuck with Citigroup's ...

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First Published: Sat, August 19 2017. 09:30 IST