The Traderszone Network

Published in TZ Latest News 25 February, 2015 by The TZ Newswire Staff

Exclusive: Petrobras hires JPMorgan for $3 billion in asset sales – sources

SAO PAULO/NEW YORK (Reuters) – PetrĂ³leo Brasileiro SA (PETR4.SA) has hired JPMorgan Chase & Co to handle $3 billion in planned asset sales this year, as fallout from a corruption scandal has shut access to financing for Brazil’s state-controlled oil producer, two sources with direct knowledge of the situation said on Wednesday. JPMorgan (JPM.N) will be tasked with luring the largest number of bidders possible for the assets and then structuring their sale, said a first source, who asked for anonymity since the process is private.

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