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247 – Brookfield Asset Management intends to negotiate its majority stake in Nova Transportadora do Sudeste (NTS). This transaction took place after the 2016 coup, when Michel Temer succeeded President Dilma Rousseff. NTS was considered one of the most valuable assets of Transpetro, the gas pipeline subsidiary of Petrobrás. Under the Bolsonaro government, Brookfield completed the remainder of the NTS purchase.
According to information from BN Americas, the Canadian company hopes to finalize the sale of the asset during the first half of 2024. The company, however, denies the sales initiatives, calling the news rumors.
According to the model agreed at the time, Petrobrás sold the company and continues to lease the pipelines to transport gas, even using only a fraction of the pipelines’ capacity. In addition, according to experts’ calculations, the NTS tariff could already be lower by at least 30%.
Brookfield’s decision is no coincidence. During this period, the Canadian company did not invest in the expansion of the gas pipeline network. It hired Petrobrás itself to carry out operation and maintenance and accrued only profits and dividends. He even announced, in September 2022, an investment program of 12 billion reais, which was never close to being implemented, considered by investors as a way to add value to assets.
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