Petrobras May Shed Gas Unit to Ultrapar

Brazil's state-run oil company Petroleo Brasileiro SA is close to announcing the sale of its liquified petroleum gas distribution unit Liquigás Distribuidora SA to industrial group Ultrapar Participações 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 Econômico reported the deal closing earlier on Thursday.

Reporting by Tatiana Bautzer