Brazil's Petrobras confirms pipeline sale to Brookfield-led group

Brazilian oil company Petróleo Brasileiro SA (Petrobras) has agreed to sell its natural gas pipeline unit, Nova Transportadora do Sudeste (NTS), to a consortium led by Brookfield Asset Management. The deal, reported earlier this week by Reuters, is said to be valued at US$5.2 billion. Petrobras said it will disclose the final terms and conditions after the disinvestment process has been completed and the transaction is approved by statutory authorities. Reuters reported Toronto-based Brookfield is partnering in the acquisition with a Canadian pension fund and Asian sovereign wealth funds CIC and GIC.

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