December 7, 2016 / 9:26 PM / 9 months ago

Brazil's audit court asks Petrobras to hold new asset sales

SAO PAULO, Dec 7 (Reuters) - Brazil’s federal auditing court (TCU) has suspended temporarily part of state-controlled Petrobras’s asset sale program while the court reviews its divestment procedures for a final ruling.

In a decision published on Wednesday, TCU said five ongoing Petrobras asset sale processes that are nearing conclusion can be finalized, which account for around $3.3 billion. It asked the company to refrain from signing any new sale plans ‘until new order’. (Reporting by Roberto Samora; Writing by Marcelo Teixeira)

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