Petrobras concludes sale of Guarani bioenergy stake
Brazilian state-run energy giant Petrobras has concluded the sale of its stake in ethanol producer Guarani S.A. to partner Tereos.
In a securities filing, Petrobras said it received US$203mn in exchange for its 46% interest in the São Paulo-based company.
Tereos will now own 100% of Guarani, which also produces electricity from biomass power plants.
Petrobras announced in September that it would exit the ethanol sector as it focuses on ultra-deepwater oil and gas production.
The Rio de Janeiro-based firm also sold a 49% stake in bioenergy company Nova Fronteira to São Martinho in December.
Petrobras has raised US$13.6bn from asset sales in the past two years and plans to receive a further US$21bn from divestments in 2017 and 2018.
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