Shareholders of Brazil’s state-run oil company Petrobras have approved the sale of a 90 percent stake in pipeline unit Nova Transportadora do Sudeste (NTS) to a group led by Canada’s Brookfield Asset Management.
The vote, which took place during a general meeting in Rio de Janeiro, came almost a month after the company’s board agreed to sell the unit to Nova Infraestrutura Fundo de Investimento em Participações for USD $5.19 billion.
In a securities filing, Petrobras said shareholders also approved the appointment of Marcelo Mesquita de Siqueira Filho to the company’s board. In addition, the meeting ratified changes to company statutes aimed at increasing transparency and improving corporate governance, Petrobras said.