Investors drop out of two groups seeking Petrobras gas pipeline unit - Reuters

Apr. 01, 2019 6:07 PM ETPetróleo Brasileiro S.A. - Petrobras (PBR), ENGIYPBR, ENGIYBy: Carl Surran, SA News Editor
  • At least three investors left groups interested in acquiring the TAG gas pipeline network that will be sold by Petrobras (NYSE:PBR), which likely will leave stronger a third group led by Engie (OTCPK:ENGIY) and Canadian pension fund Caisse de Depot et Placement du Quebec, Reuters reports.
  • After the previously reported departure of Australia’s Macquarie Group Ltd from one of the groups, which still includes Brazilian investment firm Itausa Investimentos and Singapore sovereign wealth fund GIC, the other two investors that were supporting the bid, sovereign wealth fund Abu Dhabi Investment Authority and investment manager Wren House Infrastructure, also pulled out, according to the report.
  • Another group, led by Mubadala Investment and EIG Global Energy Partners, had been in talks with the BlackRock investment firm but reportedly gave up.
  • The TAG sale is expected to be the largest divestment in PBR's asset sale program, possibly fetching $8B.

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