June 8, 2017 / 11:54 AM / a year ago

Brazil court rules Petrobras may proceed with sale of NTS unit

SAO PAULO, June 8 (Reuters) - A Brazilian court upheld a ruling that allowed Petróleo Brasileiro SA to proceed with the sale of its gas pipeline unit Nova Transportadora do Sudeste SA (NTS), the state-controlled oil company said in a Thursday securities filing.

In March, a federal court lifted an injunction barring the sale of NTS to a group of investors led by Canada’s Brookfield Asset Management Inc for $5.2 billion.

Separately, a court also suspended until Sept. 11 an earlier decision prohibiting Petrobras, as the company is known, to proceed with the sale of its Três Lagoas fertilizer unit, the filing said. (Reporting by Luciano Costa and Bruno Federowski; Writing by Bruno Federowski)

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