Petros Aims to Float Pulp Unit

Petros, the pension fund for Petrobras employees, is analyzing the possibility of an IPO for its Eldorado pulp and paper producer, a spokeswoman says. There were no additional details immediately available. The fund is also part owner of Investimentos e Participacoes em Infraestructura (Invepar), which has previously said it would look to IPO as well. Following the recent BRL16.21bn winning bid for Sao Paulo’s Guarulhos airport in partnership with South Africa’s ACSA, the spokeswoman confirms that an IPO is still in the planning stages. Bankers following the sale say no managers have been chosen and a sale would be at the end of 2012 at the soonest. Such a deal could raise BRL5bn ($2.84bn).