Petrobras closes $8.7 bln sale of TAG to Engie, CDPQ: Reuters


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Brazilian state-run oil company Petroleo Brasileiro SA (Petrobras) has closed the sale of pipeline system Transportadora Associada de Gás SA (TAG) to a group led by Engie SA and Caisse de dépôt et placement du Québec (CDPQ), Reuters reported.

According to a securities filing, Petrobras received a total of 33.5 billion reais (US$8.7 billion) from the buyers last week for the 90 percent stake it had in TAG, the report said.

TAG owns about 4,500 kilometres (2,800 miles) of natural gas pipelines in northeast Brazil.

In 2016, Brookfield Asset Management acquired Nova Transportadora do Sudeste (NTS) from Petrobras for US$5.2 billion.