Macquarie Group Ltd left a group expected to bid for Petrobras's TAG natural gas pipeline network as the Brazilian oil giant is giving interested parties until April 2 to present their price proposal, people with knowledge of the matter said.
On the first round of bids, Sydney-based Macquarie led a group with Singapore sovereign wealth fund GIC Private Ltd, Canada Pension Plan Investment Board and Itausa - Investimentos Itau SA, people said at the time. Now, GIC, Itausa and CPPIB are expected to bid without Macquarie, the people said, asking not to be named because the discussions are private.
The pipeline network, Transportadora Associada de Gas, spans 10 states in northern Brazil, and is a main part of the company's plans to sell about US$27 billion of assets to help it slash debt and focus more resources on its core offshore oil production.
Source: News Formal (newsformal.com)
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