AUSTRALIA

Tenneco to Buy State Pipelines: The Houston oil company will buy South Australia’s gas pipeline utility for about $220 million and then sell off up to 40% of it to local partners, the Australian government announced. State Premier Dean Brown said Tenneco Inc. had won the bidding to acquire the Pipelines Authority of South Australia, or PASA, which was put on the market last year. The sale--the first major divestiture under the privatization program initiated by the state’s Liberal government--is expected to become final by July and raise about $220 million.