(Adds details throughout on LPG unit sale)

RIO DE JANEIRO, March 29 (Reuters) – Brazilian state-run oil firm Petroleo Brasileiro SA said on Friday it had kicked off a second attempt to sell its liquefied petroleum gas (LPG) distribution unit after an initial deal last year was scuttled by antitrust concerns.

Petrobras, as the firm is known, said in a filing that it had begun the “teaser” phase for the sale of Liquigas Distribuidora SA, which provides potential bidders with basic information about the LPG distribution asset, and paves the way for formal bids.

In February, Reuters reported that Petrobras had hired the investment banking unit of Banco Santander Brasil SA to revive the sale.

Petrobras’ management has made asset sales the core element of

Read More At Article Source | Article Attribution