May 16, 2018 |
Petrobras has named French electric utility Engie its preferred bidder (PB) for the TAG pipeline network, four sources familiar with the sale confirmed.
The pair are negotiating terms for the sale and purchase agreement as well as the shareholders' agreement and are expected to lay out a final draft by May 31.
While Engie was picked as the PB ahead of two other bidding consortiums, the talks with Brazilian state-run Petrobras are not exclusive.
Under rules established by the Brazilian federal
French electric utility charts hefty amount of debt for potential $7bn purchase from the Brazilian energy firm