Blackstone Offers $6 Billion for Petrobras Pipeline

Blackstone Group has teamed up with its Brazilian partner to compete for Petroleo Brasileiro SA’s natural gas pipeline network in the country’s northeast, said people with knowledge of the matter.

Blackstone and Patria Investimentos Ltda are one of at least three groups that have made non-binding offers up to $6 billion to acquire the asset, the people said, asking not to be named because the discussions are private. Mubadala Development and EIG Global Energy Partners also made an initial offer for the 90 percent stake in Transportadora Associada de Gas SA, as well as a consortium led by French Energy company Engie SA, according to the people.

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