RIO DE JANEIRO (Reuters) - The chief executive officer of Engie SA in Brazil, Mauricio Bahr, said he expects the country’s highest court to approve the French company’s $8.6 billion acquisition of gas pipeline TAG from Brazil’s state-controlled Petroleo Brasileiro SA..
Bahr said he expects the Supreme Court to show “common sense” and allow the deal to proceed. The Supreme Court will decide whether Petrobras, as the company is known, can close the deal with Engie.
Bahr said the “check” to pay for the company is ready to be cashed as soon as the Supreme Court rules on the subject. A decision was expected later on Thursday.
Reporting by Rodrigo Viga Gaier; Writing by Tatiana Bautzer; Editing by David Gregorio