Macquarie is said to leave group bidding for Petrobras pipeline

Macquarie Group Ltd left a group expected to bid for Petrobras's TAG natural gas pipeline network as the Brazilian oil giant is giving interested parties until April 2 to present their price proposal, people with knowledge of the matter said.

On the first round of bids, Sydney-based Macquarie led a group with Singapore sovereign wealth fund GIC Private Ltd, Canada Pension Plan Investment Board and Itausa - Investimentos Itau SA, people said at the time. Now, GIC, Itausa and CPPIB are expected to bid without Macquarie, the people said, asking not to be named because the discussions are private.

The pipeline network, Transportadora Associada de Gas, spans 10 states in northern Brazil, and is a main part of the company's plans to sell about US$27 billion of assets to help it slash debt and focus more resources on its core offshore oil production.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Enbridge pipeline delay spooks traders in long-term Canada crude marketNorth American energy traders are reluctant to take up long-term positions on Canadian crude price moves, preferring to stick to spot deals, as ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Neo Group breaks ground on new high-tech HQ, to lease space to F&B startupsNEO Group will be consolidating its operations in a new high-tech headquarters and catering hub, expected to be completed in the fourth quarter of 2020, it announced on Friday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

AIA Group's 2018 value of new business rises 22%, beats forecasts[HONG KONG] Insurer AIA Group Ltd posted a 22 per cent rise in new business value in 2018, beating estimates, driven by higher demand from its clients in Hong Kong as well as increased purchases from mainland Chinese visitors to the Asian financial hub. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Stocks to watch: Keppel Infrastructure Trust, Datapulse, USP Group, OxleyTHE following companies saw new developments that may affect trading of their shares on Friday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »