BREAKING NEWS

BREAKING NEWS

Brazil official says Petrobras, BB and Caixa should sell subsidiaries

Brazil official says Petrobras, BB and Caixa should sell subsidiaries
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PAULO WHITAKER(Reuters)
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SAO PAULO (Reuters) - Brazil's secretary of privatisation said on Tuesday the government wants state-controlled companies Petroleo Brasileiro SA <PETR4.SA> and banks Banco do Brasil SA <BBAS3.SA> and Caixa Economica Federal to sell most of their subsidiaries.

Speaking at an investment conference in Sao Paulo, Salim Mattar said the government also wants to sell all stakes owned by BNDESPar, the investment arm of Brazil's development bank, which he estimated to be worth around 110 billion reais (22 billion pounds), and then close BNDESPar.

(Reporting by Tatiana Bautzer; editing by David Evans)

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