Brookfield Acquires 90% Interest in Petrobras Subsidiary
4/5/2017
Brookfield Infrastructure has completed the acquisition of a 90% ownership interest in Nova Transportadora do Sudeste S.A. from Petroleo Brasileiro S.A. through a Brookfield-led consortium, for total consideration of approximately $5.2 billion. Payment will be completed in two parts, an upfront payment of $4.2 billion due on closing and the balance payable on the fifth anniversary of the closing.
“Closing this transaction was one of our top priorities for 2017,” said Sam Pollock, Chief Executive Officer of Brookfield Infrastructure. “We are deploying approximately $1.3 billion at closing to significantly expand our utilities business in a sector and geography that we know well, where we will earn strong risk-adjusted returns.”
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Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
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