Brazil - 03

Brazil: NTS’ Sale: Subdued Political Impact

On 8 September Petrobras confirmed that it had reached an agreement with a consortium led by Canadian asset manager Brookfield for the sale of a majority stake in NTS, its gas pipeline subsidiary. Though the company did not divulge the details of the deal, media reports noted it involved the sale of a 90% stake in NTS for $5.2bn. The sale will reportedly go through a largely symbolic approval from Petrobras’ board and be officially announced by the end of September.
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