February 16, 2018 / 9:22 PM / 9 months ago

Petrobras sells Sao Martinho shares for $137 million -filing

SAO PAULO, Feb 16 (Reuters) - Brazil’s state-controlled oil company Petróleo Brasileiro SA on Friday said it has sold all remaining shares it owned at sugar and ethanol group São Martinho SA for 444 million reais ($137 million), according to a securities filing.

Petrobras, as the company is known, said it sold 24 million São Martinho shares representing 6.59 percent of the company’s share capital at an auction in the B3 exchange in Sao Paulo. São Martinho had been a partner of Petrobras in an ethanol project in Brazil, but they split ways in 2016. ($1 = 3.2310 reais) (Reporting by Marcelo Teixeira; Editing by Lisa Shumaker)

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