Petrobras confirms ongoing negotiations for Gasmig sale


Petrobras (PBR +1.2%) rises after reporting it is in talks to sell its 40% stake in Brazilian natural gas distributor Gasmig to electricity holding company Cia Energética de Minas Gerais (CIG +0.2%).

PBR says a sale is part of its plan to shed non-core assets; no details on the value of its stake in Gasmig is unveiled.

Gasmig distributes ~4.1M cm/day of natural gas in the state of Minas Gerais through an 850 km-long network of integrated pipelines.

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Comments (1)
  • jamesvclark3215
    , contributor
    Comments (42) | Send Message
     
    You guys are not reporting down grad of Brazilian Sovereign Bonds by Moody's which has down ward pressure on CIG.
    17 Sep 2014, 10:32 AM Reply Like
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