Petrobras gets three bids for natural gas unit

Bloomberg

Petrobras has received three bids for a 2,800-mile (4,506 kilometer) natural gas pipeline system being sold as part of a wider push to raise cash through divestments, said people knowledgeable on the matter. Mubadala Development along with EIG Global Energy Partners are leading one group while Sydney-based Macquarie Group Ltd. leads another that submitted bids for Transportadora Associada de Gas, or TAG, the people said. A third bid includes French utility Engie SA, the people said, requesting not to be named because the information isn’t yet public.
No details were given on the size of the bids, but the proposals were expected to go as high $8 billion including debt, people familiar with the process said earlier this week. Petrobras will come to a decision in two or three weeks, though more information may be needed, one person said. China’s Silk Road Fund Co. and Italian Snam SpA joined the Mubadala and EIG group, the people said. Sao Paulo-based Itausa — Investimentos Itau SA is competing for TAG in association with Sydney-based Macquarie, Canada Pension Plan Investment Board, and Singapore’s GIC Private Ltd.