June 10, 2019 |
Brazil's Supreme Court has reversed an injunction that required state-owned companies to get congressional approval to sell assets, allowing Petrobras to continue with an $8.6bn deal for the TAG natural gas pipeline.
"Petrobras continues with its divestments, fundamental for reducing its level of indebtedness and for generating value through active portfolio management," the company said in a statement after the ruling.
Petrobras agreed in April to sell TAG to France's Engie and its partner, t
State-owned energy company proceeds with TAG sale and other deals