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Brookfield reportedly bids US$5bn for Petrobras pipeline unit

Bnamericas Published: Thursday, May 12, 2016
Brookfield reportedly bids US$5bn for Petrobras pipeline unit

Brookfield Asset Management has offered 18bn reais (US$5.2bn) to buy a gas pipeline unit of Brazilian state-run oil company Petrobras, according to widespread media reports.

The bid for Nova Transportadora do Sudeste (NTS) is said to have trumped proposals from Spain's Gas Natural Fenosa, France's Engie and Japan's Mitsui.

Under the terms of the proposed deal, Brookfield would reportedly assume the NTS gas pipeline network in Brazil's southeast region without debt liabilities.

Petrobras plans to sell up to US$14bn of assets this year to reduce debt and help finance new deepwater projects.

Brookfield's renewable energy unit is also seeking acquisitions in Brazil's hydroelectric segment, the company said last week.

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