Petrobras to announce sale of gas distribution unit to Ultrapar

SAO PAULO: Brazil's state-run oil company Petroleo Brasileiro SA is close to announcing the sale of its liquified petroleum gas distribution unit Liquig?s Distribuidora SA to industrial group Ultrapar Participa??es SA , a source close to the matter told Reuters.

Petrobras, as the company is known, will receive around 2.8 billion reais ($822 million), the source said.

The deal may be announced as soon as this week. Brazilian newspapers O Estado de S. Paulo and Valor Econ?mico reported the deal closing earlier on Thursday.

Copyright Reuters, 2016