UPDATE 1-Petrobras says pension fund needs cash infusion of up to $4.8 bln

June 24, 2016 3:24 AM

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RIO DE JANEIRO, June 23 Brazil's state-run oil company Petrobras said on Thursday its employee pension fund will require a cash infusion of up to 16.1 billion reais ($4.8 billion) to make up for unfunded liabilities, half of which should come from the company and the rest from beneficiaries.

Petros, Brazil's second-largest pension fund, accumulated unfunded liabilities of 22.6 billion reais ($6.8 billion) at the end of 2015, the company, known formally as Petroleo Brasileiro SA, said in a statement.

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