Brookfield Acquires 90% Interest in Petrobras Subsidiary

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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