By September 8, 2016 Read More →

Negotiations in Petrobras pipeline unit sale to Brookfield concluded

Petrobras pipeline

Negotiations in the Petrobras pipeline deal involving the sale of the natural gas pipeline unit Nova Transportadora do Sudeste to a consortium led by Canadian Brookfield have been completed. Reuters file photo by Laszlo Balogh.

Petrobras pipeline deal valued at $5.2 billion

SAO PAULO (Reuters) – Petrobras concluded negotiations to sell the pipeline unit New Carrier Southeast (NTS) to a consortium led by Canadian Brookfield, state in fact to the market on Thursday, without immediately reveal the details of the deal.

On Tuesday, Reuters reported that Petrobras had closed agreement to sell 90 percent of its stake in NTS to a group of investors led by Brookfield Asset Management for $ 5.2 billion, according to a source with direct knowledge of subject matter.

“After observing the steps under the Petrobras disinvestment process, the final terms and conditions of the transaction will be submitted to the approval of the company’s statutory bodies and, if approved, will be timely disclosed to the market”, he was limited to say the state.

According to the Reuters report, the investor group includes the pension fund of British Columbia, Canada, and SWFs CIC (China) and GIC (Singapore).

The source added that the agreement for the sale of the NTS will be submitted to the Board of Directors of Petrobras, and the deal is expected to close the end of September.

If confirmed the value of the deal, the agreement should be the biggest disinvestment so far within the Petrobras plan to sell about $ 15 billion in assets in 2015 and 2016.

(By Gustavo Bonato)

Ph: 432-978-5096 Website:

Ph: 432-978-5096 Website:

Posted in: Canada

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