据《石油世界期刊》7月1日圣保罗报道，巴西国家石油公司(Petroleo Brasileiro SA)通过出售其在巴西最大燃料分销商Petrobras Distribuidora SA 的剩余股份筹集了约23亿美元，这是今年拉丁美洲最大的一笔股权交易。
据该公司提交的文件显示，该公司以26雷亚尔(合5.23美元)的发行价完全退出Petrobras Distribuidora SA 。此次出售是该石油巨头退出非核心业务、削减债务并专注于深水项目的更广泛计划的一部分。
裁员也是政府剥离国有资产战略的一部分。私有化运动是巴西经济部长保罗·盖德斯（ Paulo Guedes ）在 2019 年上任时的主要承诺之一，但在过去一年的大部分时间里，这场流行病颠覆了巴西经济。在获得国会批准出售公用事业巨头 Eletrobras 后，政府最近取得了胜利，激发了投资者的乐观情绪。
剥离之际，巴西资产正在反弹。雷亚尔汇率接近一年来的最高水平，Ibovespa 股票指数本月早些时候创下历史新高，政府周二在国际债券市场发债。这个南美国家是世界上最大的原材料出口国之一，预计到 2021 年增长率将超过 5 %。
周三的这笔交易——今年迄今为止在拉丁美洲最大的一笔——筹集了约 114 亿雷亚尔。4·36875亿有表决权的该股份，相当于持有公司37.5%的股份。根据彭博社汇编的数据显示，这也是至少自 1990 年以来该国最大的五家二级市场之一。
2017年，巴国油在BR Distribuidora首次公开募股(IPO)期间，开始从该公司剥离业务。两年后，该公司在公开募股中出售了对该公司的控制权，获得了22亿美元的收入，并结束了政府对该行业最大公司的控制。
美银分析师弗兰克·麦克甘(FrankMcGann)在6月13日的一份报告中写道，进一步的撤资为巴西国家石油公司的资产出售计划做出了重大贡献，同时也巩固了BR Distribuidora的独立性。
BR Distribuidora在巴西各地拥有8000多家加油站和1000多家便利店，该公司第一季度业绩有所增长，最近开始采取削减成本的措施，包括裁员。今年以来，股市上涨了 21 %，超过该国主要股指约14个百分点。
瑞吉卡多佐( Regis Cardo so )领导的瑞信( Credit Suisse )分析师在 6 月 29 日的一份报告中写道，该股“在交易完成后将继续保持良好势头，因为它消除了拖累股价的过剩压力”，以及与国有控股公司相关的风险。卡多佐重申了他的超预期评级，并将他的目标价从 32 雷亚尔上调至39雷亚尔。
在前首席执行官布兰科(Roberto Castello Branco)的领导下，巴西国家石油公司加快了剥离非必要资产的努力。布兰科今年早些时候被前将军若阿金•席尔瓦•卢纳(Joaquim Silva Luna)取代。
该股占巴西 I bovespa 股票指数的 10 %，今年以来一直落后于基准指数的上涨，以当地货币计算上涨约 4 %，而该指数上涨近 7 %。
不过，分析师大多对巴西国家石油公司的前景持乐观态度，此前该石油公司在第一季度财报中实现了盈利并削减了债务，这增强了人们对该公司新方向下派息的乐观态度。据彭博数据显示，该优先股有 10 个买入建议， 3 个持有， 1 个卖出。
郝芬 译自 《石油世界期刊》
原文如下:
Petrobras raises $2.3 billion in sale of BR Distribuidora remaining shares
Petroleo Brasileiro SA raised about $2.3 billion through the sale of its remaining stake in Brazil's largest fuel distributor in the biggest equity transaction in Latin America this year.
Petrobras, as the company is known, fully exited Petrobras Distribuidora SA in an offering that priced at 26 reais ($5.23) a piece, according to company filings. The sale is part of a broader plan from the oil giant to exit non-core businesses, cut debt and focus on deep-water projects.
The downsizing is also part of the government's strategy to divest state-run assets. The privatization drive, one of the main promises of Economy Minister Paulo Guedes when taking office in 2019, has been on hold for most of the past year after the pandemic upended the economy. The government recently scored a victory after gaining congressional approval to sell utility giant Eletrobras, stoking investor optimism.
The divestment comes amid a rally in Brazilian assets. The real is trading near its strongest level in a year, the Ibovespa stock index hit a record earlier this month and the government tapped the international bond market Tuesday. The South American nation, one of the world's biggest exporters of raw commodities, is now expected to grow more than 5% in 2021.
Wednesday's transaction -- the biggest in Latin America so far this year -- raised about 11.4 billion reais. The stake, 436,875,000 voting shares, was equivalent to 37.5% of the company. It's also one of the five-largest secondary offerings in the country since at least 1990, according to data compiled by Bloomberg.
Petrobras started divesting from BR Distribuidora in 2017 during the company's initial public offering. Two years later, it sold control of the firm in a public equity offering, raking in about $2.2 billion and ending government control over the biggest player in the industry.
Further divestment brings a significant contribution to Petrobras's asset-sale program, while also cementing BR Distribuidora's independence, BofA analyst Frank McGann wrote in a report dated June 13.
BR Distribuidora, which owns over 8,000 gas stations and more than 1,000 convenience stores across Brazil, reported gains in the first quarter and has recently embarked on cost cutting measures, including staff reductions. Shares are up 21% this year, outperforming the country's main stock gauge by about 14 percentage points.
The stock is “set to continue to have a good run after the deal is completed, as it removes the overhang that weighed on the shares,” as well as risks tied to state-controlled firms, Credit Suisse analysts led by Regis Cardoso wrote in a report dated June 29. Cardoso reaffirmed an outperform rating and boosted his price target to 39 reais from 32.
Petrobras accelerated efforts to divest non-essential assets under former chief Roberto Castello Branco, who was replaced by former general Joaquim Silva e Luna earlier this year.
The shares, which account for about 10% of Brazil's Ibovespa Stock Index, have trailed the benchmark's advance so far this year, gaining about 4% in local currency terms compared with a nearly 7% rise for the gauge.
Still, analysts are mostly positive on Petrobras's outlook after the oil company posted a profit and cut debt in the first-quarter results, boosting optimism for dividend payments under the company's new direction. The preferred stock has 10 buy recommendations, three holds and one sell, Bloomberg data show.
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