Petrobras prepares to launch retail IPO.

摘要

According to local media, the Brazilian state oil company has hired a group of banks-the investment-banking units of Citigroup, Banco Bradesco, Itau Unibanco Holding, Banco do Brasil and Grupo BTG Pactual-to handle its distribution unit's initial public offering. BR Distribuidora, as the unit is known, operates Brazil's largest retail network, selling gasoline, ethanol, and diesel. Neither Petrobras nor any of the banks were willing to comment on the reported IPO, but sources said that the company might sell 25 or more of the retail unit to investors.