Petrobras offloads remaining stake in NTS

Petrobras offloads remaining stake in NTS

M&A Equity Brazil Canada Energy Gas Pipelines

Brazil's state-owned oil company Petrobras said Wednesday that it sold its remaining 10% stake in the Nova Transportadora do Sudeste (NTS) natural gas pipeline network to Canadian investor Brookfield and local holding company Itaúsa for BRL1.8 billion ($336 million). Petrobras expects to earn BRL1.5 billion from the deal after discounting dividend payments and other adjustments, it said in a securities filing. A group of investors led by Brookfield paid $5.08 billion for 90% of NTS in April 2017

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