Engie Brazil CEO Expects Supreme Court To Ok $8.6 Billion Gas Pipeline Deal

(Reuters, 6.Jun.2019) — The chief executive officer of Engie SA in Brazil, Mauricio Bahr, said he expects the country’s highest court to approve the French company’s $8.6 billion acquisition of gas pipeline TAG from Brazil’s state-controlled Petroleo Brasileiro SA..

Bahr said he expects the Supreme Court to show “common sense” and allow the deal to proceed. The Supreme Court will decide whether Petrobras, as the company is known, can close the deal with Engie.

Bahr said the “check” to pay for the company is ready to be cashed as soon as the Supreme Court rules on the subject. A decision was expected later on Thursday.

(Reporting by Rodrigo Viga Gaier; Writing by Tatiana Bautzer; Editing by David Gregorio)

***

Please follow and like us:
RSS
Follow by Email
Facebook
Facebook
Google+
https://energy-analytics-institute.org/2019/06/06/engie-brazil-ceo-expects-supreme-court-to-ok-8-6-billion-gas-pipeline-deal/
LinkedIn
Instagram

Leave a Reply

Your email address will not be published. Required fields are marked *