Petrobras agrees to sell pipeline unit to Engie for $8.6 billion

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Petrobras agrees to sell pipeline unit to Engie for $8.6 billion
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A consortium led by France's Engie SA submitted the highest offer for a maj...

SAO PAULO/RIO DE JANEIRO - A consortium led by France’s Engie SA submitted the highest offer for a major gas pipeline unit owned by Brazil’s Petroleo Brasileiro SA, the state-run oil firm said on Friday, as the company’s biggest divestment draws to a close.

That topped offers by two competing consortia, led by Itausa Investimentos Itau SA and EIG Global Energy Partners with Mubadala Investment Co, respectively. Around 60 percent of the bid was financed by Itau Unibanco Holding SA , Banco Bradesco SA and Banco do Brasil SA .

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