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Petrobras, Engie Unlikely to End TAG Talks Before Feb -Engie CEO

November 1, 2018

Talks between Brazil's Petroleo Brasileiro SA and France's Engie over the latter's acquisition of pipeline company TAG are not expected to end before February or March of next year, the chief executive of Engie's Brazilian unit said in a conference call with analysts.

Eduardo Sattamini said even if Petrobras, as the oil company is known, were successful in overturning an injunction blocking the sale and resumed talks with Engie immediately, a deal could not be reached this year. Engie had been in exclusive talks to acquire the pipeline company, worth more than $7 billion, when a Supreme Court injunction in July suspended the process. 

(Reuters, Reporting by Luciano Costa)

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