Business

Petrobras moves forward in process to sell remaining stake in TAG

Brazil’s state-run oil company Petroleo Brasileiro (PETR4.SA) has begun the “non-binding phase” of the process of selling its remaining 10% stake in its former pipeline subsidiary Transportadora Associada de Gás (TAG). Petrobras sold a 90% stake in TAG to Engie’s (ENGIE.PA) Brazilian subsidiary and Canadian investment fund Caisse de Depot and Placement du Quebec (CDPQ) in April for $8.6 billion. Engie has said it intends to acquire the remaining stake.

Source: Reuters

Categories: Business, Industry

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