September 23, 2016 / 11:32 AM / a year ago

Brookfield-led group to buy stake in Petrobras natgas pipeline

Sept 23 (Reuters) - A consortium including Brookfield Infrastructure said it agreed to buy a 90 percent stake in the operator of a natural gas transmission system in Brazil from Petróleo Brasileiro SA (Petrobras) for about $5.2 billion.

Brookfield-managed entities will hold a controlling interest in the consortium, which also includes China’s CIC Capital Corp and Singapore’s GIC Private Ltd, which are clients of Brookfield Asset Management.

Brookfield Infrastructure’s investment will be a minimum of about 20 percent of the deal, while Brookfield Asset Management has agreed to participate initially for a roughly 30 percent interest in the consortium.

Nova Transportadora do Sudeste SA (NTS) operates a pipeline system that transports natural gas in south-central Brazil, connecting Rio de Janeiro, São Paulo and Minas Gerais with natgas coming from Bolivia and Brazil’s offshore oil and gas fields. (Reporting by Arathy S Nair in Bengaluru; Editing by Savio D‘Souza)

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