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| Name | Symbol | Market | Type |
|---|---|---|---|
| Petroleo Brasileiro ADR | NYSE:PBR | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.44 | 2.60% | 17.38 | 17.44 | 17.1625 | 17.27 | 19,639,107 | 01:00:00 |
From May 2019 to May 2024
By Maria Armental
Brazilian oil company Petroleo Brasileiro SA said French utility company Engie SA and Canadian pension giant Caisse de depot et placement du Quebec presented the best offer for a 90% stake in gas-pipeline unit Transportadora Associada de Gas SA.
The roughly $8.6 billion offer, subject to approval by Petrobras governance and competitive defense bodies, includes the payment by the buyer of $800 million in debt with Brazilian state lender BNDES on the closing date, according to Petrobras.
State-owned Petrobras launched TAG's auction in 2017, attracting interest from Blackstone Group LP, EIG Global Energy Partners and Macquarie Group Ltd., all working with large institutional investors. (www.wsj.com/articles/competition-heats-up-for-brazilian-pipeline-business-1520445600)
Petrobras said it would continue to use TAG's natural-gas transportation services through several long-term contracts with the unit.
-- Luis Garcia contributed to this article.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
April 05, 2019 17:42 ET (21:42 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
1 Year Petroleo Brasileiro ADR Chart |
1 Month Petroleo Brasileiro ADR Chart |
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