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Macquarie is said to leave group bidding for Petrobras pipeline

Australian investment bank Macquarie has reportedly left a group expected to bid for Petrobras' natural gas pipeline.

Photo: /ritzau/AP/Leo Correa

Macquarie Group Ltd. left a group expected to bid for Petrobras's TAG natural gas pipeline network as the Brazilian oil giant is giving interested parties until April 2 to present their price proposal, people with knowledge of the matter said.

On the first round of bids, Sydney-based Macquarie led a group with Canada Pension Plan Investment Board, GIC Private Ltd. and Itausa - Investimentos Itau SA, people said at the time. Now, GIC, Itausa and CPPIB are expected to bid without Macquarie, the people said, asking not to be named because the discussions are private.

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