Goldman Is Financing Mubadala’s $8 Billion Petrobras Unit Bid
- Brazilian gas pipeline is said to attract other competitors
- At least one group considers top offer as too high to compete
Petroleo Brasileiro SA (Petrobras) headquarters in Rio de Janeiro, Brazil.
Photographer: Dado Galdieri/BloombergGoldman Sachs Group Inc is arranging financing for Mubadala Development and EIG Global Energy Partners ahead of a bid for Petroleo Brasileiro SA’s natural gas pipeline network in northeastern Brazil, said three people with knowledge of the matter.
The offer may go as high as $8 billion for the enterprise value, which includes debt, one of the people said, asking not to be identified because the discussions are private. Two other groups, one led by French utility Engie SA and the other by Sydney-based Macquarie Group Ltd., are also competing for 90 percent of the Petrobras subsidiary known as TAG, other people said. At least one of those consortiums considers an eventual $8 billion bid to be too high to compete with, the people said.