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Brazil: Brookfield buying Petrobras assets

By  |  September 25, 2016

Petrobras Board of Directors approved in a meeting, the sale of 90% of the shares in Nova Transportadora do Sudeste (NTS) to Brookfield Infrastructure Partners and its affiliates.

The sale amounted to $5.19 billion with the first installment corresponding to 84% of the total amount, $4.34 billion, to be paid when the transaction has been completed, and the remaining amount, $850 million, in five years’ time.

The transaction is significant for the Petrobras Divestment Plan as it corresponds to roughly 35% of the $15.1 billion target for the period 2015 – 2016.

The completion of the transaction is subject to the approval of Petrobras at a General Shareholders’ Meeting and to certain customary conditions, including the approval by the regulatory bodies.

Full Content: TB Petroleum

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