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Brazil's Petrobras says could raise up to $26.9 billion through asset sales

Reuters  |  SAO PAULO 

SAO PAULO (Reuters) - Petroleo Brasileiro SA said on Wednesday that the Brazilian state-controlled oil company could raise $26.9 billion through asset sales and partnerships by 2023 as part of a new strategic business plan calling for further debt reduction.Among assets put up for sale are fertilizer plants, its liquefied petroleum gas unit and its biodiesel and ethanol businesses.Petrobras, as the company is known, said in a securities filing that its ratio of net debt to adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) should fall to below 1.5 in 2020.As part ...

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First Published: Wed, December 05 2018. 18:13 IST