Reuters: Petrobras gets three bids for its gas pipeline network [Seeking Alpha]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Seeking Alpha
Reuters: Petrobras gets three bids for its gas pipeline networkPetrobras (PBR-1.6%)received three binding bids for its sale of a 90% stake in the TAG gas pipeline network, possibly for more than $7B, Reuters reports.The bids reportedly were from groups led by France's Engie (OTCPK:ENGIY), Australia’s Macquarie and United Arab Emirates’ sovereign wealth fund Mubadala Development, and all were said to be higher than the $5.2B paid by Canada’s Brookfield Asset Management for Nova Transportadora do Sudeste, another gas pipeline unit sold by PBR.The TAG sale is part of PBR's asset sale program with a $21B target in 2017-18, as the Brazilian company seeks to reduce its $95B debt pile.See all stocks on the move »Now read:Of 97 Utilities, 27 'Safer' Dividend Payers Were Chasing Pattern Energy's Performance In February »
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