Petrobras receives three final bids for TAG gas pipeline unit - Reuters

|About: ENGIE SA (ENGIY)|By:, SA News Editor

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.

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