July 19, 2016 / 7:12 PM / 2 years ago

Argentina's Pampa Energia sells TGS gas stake in $241 mln deal

BUENOS AIRES, July 19 (Reuters) - Argentine utilities company Pampa Energia said on Tuesday it had sold its indirect stake in local natural gas supplier Transportadora de Gas del Sur (TGS) for $241 million.

The buyers are investment vehicles controlled by the wealthy Sielecki and Werthein families.

Pampa Energia has received a partial payment of $8 million, with a further $153 million due when the company closes a purchase of Petrobras Argentina. The remainder will be paid by February 2017, according to a document sent to Argentina’s stock exchange.

In May, Brazil’s state-run oil producer Petroleo Brasileiro SA sold its 67.2 percent stake in Petrobras Argentina to Pampa Energia for $892 million.

Reporting by Walter Bianchi; Writing by Gram Slattery; Editing by Matthew Lewis

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