* Brazil’s national development bank (BNDES) has sold its shares in the state-owned oil company Petrobras for a total offering of R$22bn (US$5.14bn), in what was reportedly the largest Petrobras public offering in a decade. Petrobras has announced that the price per common share was fixed at R$30 (US$7), thus making up a total of R$22bn for the BNDES’ some 734m shares. The BNDES had announced the public offering on 22 January as part of its divestment programme seeking to reduce the bank’s market risk and reallocate capital to investments with greater social impact. The BNDES is now planning a public offering of its shares in the Brazilian meat-processing giant JBS, in which the bank reportedly holds a 21.32% stake worth around R$15.6bn at 6 February stock market prices.
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