December 19, 2019 / 10:20 PM / a month ago

Credit Suisse wins BNDES mandate for $6 bln Petrobras share offering -sources

SAO PAULO, Dec 19 (Reuters) - Brazilian development bank BNDES chose the investment banking unit of Credit Suisse Group to manage a share offering to divest about 24 billion reais ($6 billion) of its stake in oil firm Petrobras, two people with knowledge of the matter told Reuters.

The partial divestment of BNDES’s stake in Petroleo Brasileiro SA, as the state-controlled oil firm is formally called, is part of President Jair Bolsonaro’s push to reduce the government’s role in the economy. BNDES has roughly 50 billion reais in Petrobras shares.

$1 = 4.06 reais Reporting by Carolina Mandl and Tatiana Bautzer Editing by Leslie Adler

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