Petrobras Units Could be Sold Under New CEO

Monday, November 19, 2018

Brazil's right-wing President-elect Jair Bolsonaro said on Monday that certain units of Petroleo Brasileiro could be privatized, even though the state-run company is strategic for the state.

Speaking to reporters after his team named Chicago University-trained economist Roberto Castello Branco as the next chief executive of Petrobras, Bolsonaro said its outgoing boss, Ivan Monteiro, could go to state-run Banco do Brasil, the country's largest, although no decision has been taken.

(Reporting by Rodrigo Viga Gaier Editing by Chizu Nomiyama)

Categories: Mergers & Acquisitions Industry News Government Regulations

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