Petrobras confirms pipeline unit sale talks with Brookfield
Brazil's state-run oil company Petrobras has begun exclusive talks with Brookfield Asset Management to sell natural gas pipeline unit Nova Transportadora do Sudeste (NTS) as part of a US$15bn divestment plan.
In a securities filing, Petrobras said its board approved a 60-day exclusivity period for negotiations with the Canadian group, with the option of a 30-day extension.
Media reports earlier in the week said Brookfield had offered 18bn reais (US$5.2bn) for NTS, trumping bids from Spain's Gas Natural Fenosa, France's Engie and Japan's Mitsui.
Brookfield is said to be seeking control of the unit's 2,500km pipeline network in Brazil's southeast without assuming debt liabilities.
Petrobras last year outlined plans to sell US$15.1bn of assets in 2015 and 2016 to reduce debt and help finance ultra-deepwater projects.
Brookfield's renewable energy unit is also seeking acquisitions in Brazil's hydroelectric segment, the company said this month.
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News in: Oil & Gas (Brazil)
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