Petrobras Ethanol Partner Seeking to Sell Stake, Valor Reports

Turdus Participacoes, Petroleo Brasileiro SA’s partner in the Total ethanol mill in Brazil’s southeastern Minas Gerais state, is seeking to sell its 53 percent stake, Valor Economico reported.

Turdus hired Credit Suisse Group AG as adviser of the sale, the Sao Paulo-based newspaper said, without saying how it got the information.

Jose Geraldo Ribeiro, a shareholder of Turdus, said the company hired a financial adviser to sell the stake, while declining to name the institution, according to Valor. Credit Suisse declined to comment, Valor said.

To contact the reporter on this story: Lucia Kassai in Sao Paulo at lkassai@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.