rss icon Subscribe
desktop mobile

Petrobras Sells TAG, Gets $8.7 bln

Image: Petrobras

Laxman Pai

Brazilian state-run oil firm Petroleo Brasileiro SA (Petrobras) has concluded the sale of gas pipeline system Transportadora Associada de Gás S.A. (TAG) to a group led by France'sEngie SA and Canada'sCaisse De Depot Et Placement Du Quebec (CDPQ).

According to a stock exchange annoucement, Petrobras received a total of 33.5 billion reais ($8.69 billion) from buyers on Thursday for the 90 percent stake it had in TAG.

Petrobras will continue to use natural gas transportation services rendered by TAG, through contracts already in force between the two companies, with no impacts on its operations and the delivery of natural gas to its clients.

This operation is in line with the company's portfolio optimization and improvement of its capital allocation, aiming value generation for our shareholders.

This report on Form 6-K shall be deemed to be incorporated by reference into the Preliminary Prospectus Supplement, dated June 10, 2019, relating to the previously announced offer by Caixa Econômica Federal of common shares, including common shares represented by American depositary shares, of Petróleo Brasileiro S.A. - Petrobras.

Jun 14, 2019

 

People & Company News

Waterford’s Tugboat Roundup Celebrates 20 Years

IMG_2166.jpg

A modest event designed as a get-together for commercial workboat operators in upstate New York is

Baltic Index at 4-week Peak on Broad Support

AdobeStock / © Lucasz Z

The Baltic Exchange's main sea freight index rose to its highest in more than four weeks on

APC Announces Retirement of Harrington

Joseph F. Harrington (Photo: APC)

Advanced Polymer Coatings (APC) has announced the retirement of Joseph F. Harrington after 25

Mergers & Acquisitions

CADMATIC Acquires Kymdata, CADS Software

CADMATIC CEO Jukka Rantala (left) and Kymdata CEO Jyrki Metsola (right) shake hands on the acquisition agreement.
 (Photo: Cadmatic)

CADMATIC has acquired Finnish software company Kymdata Ltd. including the entire share capital as

SPII Holdings Acquires DryShips

File Photo: DryShips

The dry bulk shipping company based in Athens DryShips Inc. will be acquired by SPII Holdings Inc.

Linklaters Advises GIG on Iberdrola's EA1

East Anglia One. Image: Iberdrola, S.A.

London-based multinational law firm Linklaters has advised Green Investment Group (GIG) on the

Maritime Apps