Brazil gov’t to buy nearly 2/3 of Petrobras offer

* Brazil gov’t entities agree to buy most Petrobras shares

* Sovereign fund, BNDES snap up 1.8 bln voting shares

* State entities commit to 994.9 mln preferred shares

SAO PAULO, Sept 28 (BestGrowthStock) – Brazil’s government, through
its sovereign wealth fund and other state entities, agreed to
buy nearly two-thirds of the shares in oil major Petrobras as
part of the company’s massive $70 billion offering that was
sealed last week.

The sovereign fund, state development bank BNDES and the
National Treasury committed to buy about 2.8 billion shares of
the 4.27 billion offered, Petrobras said in a statement on
Tuesday.

Brazilian state entities placed bids for 1.81 billion
voting shares (PETR3.SA: ), or 76 percent of the total, and 994.9
million preferred shares (PETR4.SA: ), about 66 percent of the
volume.

Petrobras raised 120.25 billion reais ($70.52 billion) on
Sept. 23 in the world’s biggest share offering. [ID:nN2499993]

Petrobras preferred shares, its most widely traded class of
stock, were up 0.91 percent in midafternoon trading in Sao
Paulo, while the voting shares were down 0.1 percent. The
benchmark Bovespa index (.BVSP: ) was up 0.5 percent to
69,183.12.

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For full coverage of share offering: [ID:nPETROBRAS]

For Petrobras graphics: http://link.reuters.com/qec25p

For an Insider Video segment: http://r.reuters.com/ryw84p

A Breakingviews column on Petrobras fees: [ID:nLDE68L0IM]

For the world’s largest stock offerings: [ID:nN17141638]

Details of capitalization plan: [ID:nN02ETROBR]

For a DEALTALK on the offering: [ID:nN23174232]
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(Reporting by Elzio Barreto, editing by Matthew Lewis)

Brazil gov’t to buy nearly 2/3 of Petrobras offer