CIC-led group buys stake in Brazil pipeline

An investment consortium led by sovereign wealth fund China Investment Corp has acquired a majority stake in a natural gas pipeline unit from Brazil's state oil company Petrobras SA.

CIC said on Wednesday it had - jointly with Canada's Brookfield Asset Management Inc and other institutional investors - acquired 90 percent stake in Nova Transportadora do Sudeste SA from Petrobras, which controls a natural gas transmission asset in southeast Brazil.

The statement did not reveal the value of the transaction.