December 11, 2019 / 9:39 PM / 2 months ago

Brazil's Petrobras begins sale process of 10% stake in pipeline co TAG: filing

SAO PAULO (Reuters) - Brazilian state-controlled oil company Petrobras SA (PETR4.SA) on Wednesday said it has begun the sale process for its 10% stake in the natural gas pipeline company TAG, according to a securities filing.

Petrobras sold a 90% stake in TAG to Engie’s (ENGIE.PA) Brazilian subsidiary and Canadian investment fund Caisse de Depot and Placement du Quebec (CDPQ) in April for $8.6 billion. Engie said earlier this month it intended to acquire the remaining stake.

Reporting by Carolina Mandl; editing by Jonathan Oatis

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