Petroleo Brasileiro S.A. - Petrobras (PBR)

[eFinanceMarkets]

$PBR Brazil prosecutors to probe Petrobras Argentina sale, lawyer says

Prosecutors investigating Brazil's corruption scandal will probe last year's sale of Petrobras' (PBR, PZE) Argentine subsidiary of Petrobras, says a lawyer representing the state oil company's minority shareholder.

PBR sold its 67.2% stake in Petrobras Argentina in May 2016 for $892M to Pampa Energia, after buying the Argentine unit from Perez Companc in 2002 for $1B, plus $2B in debt.

Aldemir Bendine, PBR'S CEO at the time of the sale, was jailed last month on suspicion he received bribes from the Odebrecht construction firm, part of the scandal that has led to the arrest of dozens of executives and politicians.