Brookfield Group to Buy Stake in Petrobras Natural Gas Unit

Brookfield Asset Management Inc., Canada’s largest alternative asset manager, and its partners agreed to buy a 90 percent stake in a Brazilian natural gas distribution network owned by Petroleo Brasileiro SA for $5.2 billion.

The buyer group is being led by Brookfield’s publicly-traded subsidiary, Brookfield Infrastructure Partners LP, and includes CIC Capital Corp. and GIC Private Ltd., the company said in a statement Friday. Brookfield Infrastructure’s investment will be at least about 20 percent the transaction, or about $825 million payable on closing, according to the statement. The remainder will be owned by institutional partners.

Read more

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Powered by

Up ↑

%d bloggers like this: