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Brazil regulator extends review period of Petrobras sale of Liquigás
November 22, 2017 / 11:00 PM / in 19 days

Brazil regulator extends review period of Petrobras sale of Liquigás

SAO PAULO, Nov 22 (Reuters) - Brazil’s state-run oil company Petróleo Brasileiro SA said on Wednesday that antitrust authority Cade extended by 90 days a deadline to analyze its proposed sale of liquefied natural gas unit Liquigás Distribuidora SA. Petrobras, as the company is known, now expects Cade to be done reviewing the deal by March 5, the company said in a securities filing. The board of Petrobras agreed to sell Liquigás to Ultrapar Participações SA subsidiary Cia Ultragaz SA a year ago for 2.8 billion reais ($869 million).

$1 = 3.22 reais Reporting by Ana Mano; Editing by Lisa Shumaker

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