Petrobras to sell other gas pipelines following TAG deal success - Reuters

Apr. 10, 2019 11:36 AM ETPetróleo Brasileiro S.A. - Petrobras (PBR)PBRBy: Carl Surran, SA News Editor1 Comment
  • Petrobras (PBR +0.1%) is preparing to sell three more gas pipelines after successfully selling its TAG unit for $8.6B, Reuters reports.
  • PBR initially planned to sell only a minority stake in the units but is considering selling control of the pipelines after winning a better than expected price for the TAG unit, according to the report, which also says the group of pipelines could be valued at more than $3B combined.
  • The three units - one of them still under construction - comprise 621 miles of pipelines stretching from the Santos Basin to the coast.
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