Brazil Supreme Court minister holds up sale of TAG pipeline
Date
May 27, 2019
Type
M&A Transactions
Subtype
Transaction completed
Countries
Brazil
Subsectors
O&G Midstream
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A Brazilian Supreme Court judge has issued an injunction suspending some major divestments by Petrobras.
The decision, issued by Justice Edson Fachin, calls for the suspension of the 90% sale of TAG pipeline unit for US$8.6 million to Engie and Caisse de Dépôt et Placemente du Québec (CDPQ).
The sale of such assets must be carried out in an auction format and require Congressional approval.
