March 15, 2019 / 2:28 PM / 5 months ago

Brazil's Caixa CEO says bank will sell stake in Petrobras

FILE PHOTO: People walk past a Caixa Economica Federal bank in downtown Rio de Janeiro August 20, 2014. REUTERS/Pilar Olivares

SAO PAULO (Reuters) - Brazilian state-controlled bank Caixa Econômica Federal will sell its shares in oil company Petroleo Brasileiro SA, CEO Pedro Guimarães told reporters on Friday.

He said that Finance Minister Paulo Guedes has already approved the sale, but a presidential decree authorizing it is still pending. Reuters reported in February that Caixa was preparing the sale of a roughly 9 billion reais ($2.34 billion) stake in Petrobras.

Reporting by Rodrigo Viga, in Rio; Writing by Carolina Mandl; Editing by Chizu Nomiyama

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