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Petrobras resumes BR Distribuidora sale as stock hits target -sources

RIO DE JANEIRO, May 21 (Reuters) - Brazil’s oil producer Petrobras plans to dump its remaining stake at gas station chain BR Distribuidora this year, in a deal that could raise more than 8 billion reais ($1.5 billion), three sources with knowledge of the information told Reuters.

Petroleo Brasileiro SA, as the Rio de Janeiro firm is known, plans to sell its 37.5% stake after BR Distribuidora stock hit 25 reais in Sao Paulo, with a rising trend, the people said.

Petrobras Chief Executive Officer Joaquim Silva e Luna, who took over in April, and BR’s CEO Wilson Ferreira Jr., have already discussed the sale possibility and are expected to set a meeting on the coming week, the sources said.

Petrobras did not immediately comment. BR referred to Petrobras for comments. ($1 = 5.3174 reais) (Reporting by Rodrigo Viga Gaier; written by Sabrina Valle Editing by Marguerita Choy)

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