Brookfield group to buy Petrobras pipeline unit for $5.2 billion-source

By: | Published: September 6, 2016 11:31 PM

Brazil's Petroleo Brasileiro SA agreed to sell 90 percent of its natural gas pipeline unit to a group of investors led by Canada's Brookfield Asset Management Inc for $5.2 billion, a source with direct knowledge of the deal said on Tuesday.

Brazil’s Petroleo Brasileiro SA agreed to sell 90 percent of its natural gas pipeline unit to a group of investors led by Canada’s Brookfield Asset Management Inc for $5.2 billion, a source with direct knowledge of the deal said on Tuesday.

The investor group includes British Columbia’s pension fund and Chinese and Singaporean sovereign wealth funds CIC and GIC. The agreement will be submitted to the Petrobras board and the transaction is expected to close in late September, the source said. Petrobras declined to comment and Brookfield didn’t immediately comment.

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