January 26, 2016 / 9:32 PM / 2 years ago

Brazil's Petrobras Distribuidora elects interim CEO

RIO DE JANEIRO, Jan 26 (Reuters) - Petrobras Distribuidora SA, the fuel distribution unit of state-run oil company Petroleo Brasileiro SA, said on Tuesday it had elected Ivan de Sá Pereira Junior as its interim chief executive.

Petrobras, as the company is known, has said it wants to sell at least 25 percent of the unit to a “strategic partner” as part of a plan to sell $15.1 billion of assets. The proceeds are to be used to pay down some of Petrobras’ $130 billion of debt, the largest in the oil industry.

The company also said it had extended the term of its chairman, Segen Farid Estefen, for a another year. (Reporting by Stephen Eisenhammer; Editing by Sandra Maler)

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