LatinNews Daily - 03 June 2010

Brazil: The state oil company Petrobras named six banks to manage a pending US$25bn share sale. Banco Bradesco, Citigroup, Itau Unibanco Holding, Bank of America/Merrill Lynch, Morgan Stanley and Banco Santander were appointed as global coordinators of the sale. Petrobras wants to raise cash from minority shareholders to develop its vast new offshore deepwater reserves, as part of a US$220bn five-year plan through 2014.

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