CPPIB among groups vying for Petrobras Brazil gas pipeline: Reuters
French energy company Engie SA and Brazilian investment firm Pátria Investimentos Ltda are among 20 groups interested in a controlling stake in a gas pipeline network owned by Petroleo Brasileiro SA, sources told Reuters. Petrobras, as Brazil’s state-controlled oil company is known, will receive a first round of non-binding proposals for a 90 percent stake in Transportadora Associada de Gás SA, known as TAG, by the end of November, the sources said. Other contenders for TAG, which owns 4,500 kilometres of natural gas pipelines in northeastern region of Brazil, include Abu Dhabi state-owned holding Mubadala Development Co, Canada Pension Plan Investment Board (CPPIB) and U.S. private equity group EIG Global Energy Partners. One of the sources said Petrobras aimed to fetch a price above the US$5.2 billion paid last year by a group led by Brookfield Asset Management for another gas pipeline company, Nova Transportadora do Sudeste SA.
