Petrobras receives three final bids for TAG gas pipeline unit - Reuters
Apr. 02, 2019 6:36 PM ETPetróleo Brasileiro S.A. - Petrobras (PBR), ENGIYPBR, ENGIYBy: Carl Surran, SA News Editor1 Comment
- Petrobras (NYSE:PBR) received three final bids for its TAG gas pipeline network from groups led by Engie (OTCPK:ENGIY), Itausa Investimentos Itau and EIG Global Energy Partners with Mubadala Investment, Reuters reports.
- PBR hopes to haul in $8B from the sale of TAG, which operates ~2,800 miles of gas pipelines, and should be the largest divestment in the company's asset sale program.
- Investors reportedly were dropping out of the Itausa-led and EIG-Mubadala groups in a move that could leave the group led by Engie in a stronger position.