SAO PAULO (Reuters) – Brazil’s state-run oil company Petroleo Brasileiro SA said Caixa Econômica Federal will sell a stake worth 7.2 billion reais ($1.86 billion) in the company based on the shares’ June 7 closing price, according to a securities filing on Monday.

Petrobras, as the oil company is known, had delayed the Brazilian and U.S. filings related to Caixa’s secondary share offering to wait for the Brazilian Supreme Court’s decision on whether congressional authorization is needed to continue with its asset sale program, one source with knowledge of the matter said.

Petrobras executives may now present to investors, in the road show related to the second offering, a final Supreme Court decision allowing the company to sell subsidiaries and assets, the source added, asking for anonymity to disclose private talks.

Caixa will sell 241.3 million common shares in the oil company in a secondary share offering, the filing said.

Shares will be priced on June 25.

Investment banking units of Caixa, UBS Group AG , Morgan Stanley , Bank of America and XP Investimentos will manage the offering.

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