Brazilian state-owned oil and gas group Petrobras announced it has concluded the negotiations with the consortium led by Brookfield Asset Management for the sale of Nova Transportadora do Sudeste (NTS) assets, its subsidiary in charge of gas transmission in southern Brazil. The group will release the details of the deal once it will have received the final approvals from the relevant regulatory agencies. According to the press, the deal would reach some US$5.2bn.
Petrobras is facing a stagnating production, is suffering low oil prices and is involved in a large corruption scandal. The group's debt is nearing US$130bn and it has committed to sell US$14bn of assets in 2016. In May 2016, Petrobras announced the sale of its activities in Argentina and Chile, for a total consideration of nearly US$1.4bn and the sale of its two LNG terminals in Rio de Janeiro and Ceará (Brazil) in May 2016.