Brazil’s Petrobras Nears Terms Over TAG Pipeline Sale

Brazil’s state-controlled oil company Petróleo Brasileiro (NYSE: PBR) could present a new sale and purchase agreement (SPA) before the end of December for the sale of the Transportadora Associada de Gás (TAG) pipeline, after a Brazilian Supreme Court injunction in July stalled the sale. The sale of TAG, which operates natural gas pipelines in Brazil’s north and northeast, could fetch Petrobras as much as US$7 billion, in one of the company’s largest-ever asset sales, three sources familiar with the process said. A new multibillion dollar syndicated loan is expected to finance the acquisition, two sources said.

https://www.shaledirectories.com/blog/brazils-petrobras-nears-terms-over-tag-pipeline-sale/