Brazil 6

Brazil: Petrobras’ Latest Injunction: Continued Legal Challenges at the Local Level

On 9 February a court in the northeastern state of Sergipe suspended yet another asset divestment by Petrobras, blocking the sale of the company’s subsidiary NTS, a network of gas pipelines covering the Southeast region of Brazil. The sale is one of the biggest in the company’s divestment portfolio, and the biggest so far to suffer an injunction. Petrobras had agreed to sell a 90% stake in NTS to a group led by Canadian asset manager Brookfield late last year for $5.2bn.

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