Engie: acquires TAG in Brazil
(CercleFinance.com) - Engie announces that a consortium led by Engie has won the competitive bidding process conducted by Petrobras for the sale of a 90% shareholding in Transportadora Associada de Gás S.
A. (TAG) with a final and binding offer amounting to USD 8.6bn.
TAG is the largest owner of natural gas transmission networks in Brazil. TAG's assets comprise 4,500 kilometres of gas pipelines, or 47% of the entire gas infrastructure in Brazil.
The offer has been made for a 90% stake in TAG. It was filed by the consortium consisting of Engie S.A, Engie Brasil Energia and the Caisse de dépôt et placement du Quebec (CDPQ). Petrobras will retain a 10% stake in TAG. Engie's total net ownership of TAG, whether directly or through Engie Brasil Energia, will reach 49.3%.
"Our acquisition of TAG... will also enable the Group to build on its infrastructure expertise while diversifying its network activities and seizing opportunities in growing markets," said Isabelle Kocher, Engie's CEO.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
A. (TAG) with a final and binding offer amounting to USD 8.6bn.
TAG is the largest owner of natural gas transmission networks in Brazil. TAG's assets comprise 4,500 kilometres of gas pipelines, or 47% of the entire gas infrastructure in Brazil.
The offer has been made for a 90% stake in TAG. It was filed by the consortium consisting of Engie S.A, Engie Brasil Energia and the Caisse de dépôt et placement du Quebec (CDPQ). Petrobras will retain a 10% stake in TAG. Engie's total net ownership of TAG, whether directly or through Engie Brasil Energia, will reach 49.3%.
"Our acquisition of TAG... will also enable the Group to build on its infrastructure expertise while diversifying its network activities and seizing opportunities in growing markets," said Isabelle Kocher, Engie's CEO.
Copyright (c) 2019 CercleFinance.com. All rights reserved.