Gasoduto Sudeste

active

In September 2016, Nova Infraestrutura FIP, a consortium led and managed by Canadian company Brookfield along with a group of investment funds (the Chinese CIC Capital Corp, the Singapore GIC Private, and the British Columbia pension fund), agreed to buy 90% of the shares of Nova Transportadora do Sudeste (NTS), a subsidiary of the state-owned company Petrobras. NTS was created in 2002 with the aim to develop new natural gas pipelines in the Southeast region of Brazil. At the time, the regulatory agency ANP issued an authorization allowing NTS to operate in the business. By the time the sale took place, NTS was responsible for operating a 2048-km natural gas pipeline network. Prior to the sale of the shares, ANP issued thirteen licenses for each of the pipelines under the management of NTS: Anel de Gás Residual da REDUC, Gasoduto Ramal Campos Elíseos 16" e Gasoduto Ramal Campos Elíseos 20"; Gasoduto Cabiúnas - Reduc III [GASDUC III]; Gasoduto Caraguatatuba - Taubaté [GASTAU] e EDG Taubaté; Gasoduto Campinas - Rio [GASCAR] e ECOMP Vale do Paraíba); Gasoduto GASAN II; Gasoduto RECAP - RPBC [GASAN]; Gasoduto Rio de Janeiro - Belo Horizonte II [GASBEL II]; Gasoduto Rio de Janeiro - Belo Horizonte [GASBEL], SCOMP de Congonhas e SCOMP de Mantiqueira; Gasoduto GASPAL II e ECOMP Guararema; Gasoduto ESVOL - RECAP [GASPAL]; Gasoduto REDUC - ESVOL [GASVOL]; Gasoduto Japeri - REDUC [GASJAP]; e Gasoduto Paulínia - Jacutinga [GASPAJ]. The consortium invested US$ 5.19 billion in the acquisition. In October 2016, the antitrust agency CADE approved the deal, and Petrobras' board of directors approved the sale in December 2016.