Caixa sells stake in Petrobras

Cleary Gottlieb Steen & Hamilton LLP in New York and Lefosse Advogados in São Paulo have helped Brazilian state-owned bank Caixa Econômica Federal sell its stake in Petrobras through the largest equity issuance in Brazil in six years, worth US$1.9 billion.

Caixa sells stake in Petrobras iStock.com

The underwriters, including Caixa itself, which coordinated the issuance, hired White & Case LLP in New York, Miami and São Paulo, and Pinheiro Guimarães in São Paulo.

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