A Brazilian federal court suspended on Friday the US$5.2 billion sale of state-controlled Petróleo Brasileiro SA's natural gas pipeline unit to a group of investors led by Canada's Brookfield Asset Management Inc (BAMa.TO).

In a document seen by Reuters, the Sergipe state-based court ruled the transaction, which was to be closed within weeks, be halted because of discrepancies with the way Petrobras proceeded with the sale.

More to come.