Sale of Petrobras’ TAG pipeline network attracts interest
As many as 20 groups are interested in purchasing a controlling stake in Petrobras’ Transportadora Associada de Gás SA (TAG) gas pipeline network.
Reuters reported that French energy company Engie SA and Brazilian investment firm Pátria Investimentos Ltda were among those interested in TAG, which owns 4,500 km of natural gas pipelines in northeast Brazil.
Other groups said to be monitoring the situation include the Abu Dhabi state-owned Mubadala Development, the Canada Pension Plan Investment Board and private equity group EIG Global Energy Partners LLC.
The sale of TAG is part of Petrobras’ program of asset sales – targeted at US$21 billion in 2017-18 – designed to clear its estimated US$95 billion of debt.
A Reuters source said Petrobras was expecting to receive more than the US$5.2 billion paid by a group led by Brookfield Asset Management for the larger Nova Transportadora do Sudeste SA network last year.
For more information visit the Reuters website.
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