Brazil's Petrobras sells stake in ethanol company Guarani for $202 million

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Petrobras (PETR4.SA), as the company is known, announced in October a 25 percent cut in planned investments to reduce its debts and revive investor confidence sapped by a corruption scandal, including a commitment to pull out of the biofuel sector.

Guarani runs seven sugar and ethanol mills in Brazil, making it one of the largest processors in the world's top sugar producing country.

(Reporting by Brad Brooks; Editing by Daniel Flynn)