May 30, 2017 / 10:23 PM / 4 months ago

Brazil's Petrobras says court upholds sale of liquefied petroleum gas unit

SAO PAULO (Reuters) - Brazil´s Petroleo Brasileiro SA (PETR4.SA) said an appeals court upheld on Tuesday the sale of its liquefied petroleum gas unit, approved by its shareholders in January.

Petrobras, as the company is known, said in a securities filing that the ruling confirms a previous decision by a lower court. Petrobras’ board in November approved the sale of Liquigás Distribuidora SA to a subsidiary of Ultrapar Participações SA (UGPA3.SA) for 2.8 billion reais (671.14 million pounds).

Reporting by Tatiana Bautzer; Editing by Dan Grebler

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