Petroleo Brasileiro's Gas-Pipeline Unit Draws $8.6 Billion Offer
April 05 2019 - 5:57PM
Dow Jones News
By Maria Armental
Brazilian oil company Petroleo Brasileiro SA said French utility
company Engie SA and Canadian pension giant Caisse de depot et
placement du Quebec presented the best offer for a 90% stake in
gas-pipeline unit Transportadora Associada de Gas SA.
The roughly $8.6 billion offer, subject to approval by Petrobras
governance and competitive defense bodies, includes the payment by
the buyer of $800 million in debt with Brazilian state lender BNDES
on the closing date, according to Petrobras.
State-owned Petrobras launched TAG's auction in 2017, attracting
interest from Blackstone Group LP, EIG Global Energy Partners and
Macquarie Group Ltd., all working with large institutional
investors.
(www.wsj.com/articles/competition-heats-up-for-brazilian-pipeline-business-1520445600)
Petrobras said it would continue to use TAG's natural-gas
transportation services through several long-term contracts with
the unit.
-- Luis Garcia contributed to this article.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
April 05, 2019 17:42 ET (21:42 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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