Brazilian state-run energy giant Petrobras on Friday announced the sale of a 90 percent stake in its NTS natural gas pipeline subsidiary for $5.2 billion. The stake will be purchased by an international consortium led by Canadian investment fund Brookfield. NTS owns 2,500 kilometers of pipelines in the highly populated and heavily industrialized Brazilian southeast. The sale is part of a Petrobras plan to shed assets in order to pay down debt. The company owes debts of more than R$330 billion.
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