Engie: raises stake in Brazil's TAG
(CercleFinance.com) - Engie has announced that its joint offer, with the Caisse de dépôt et placement du Québec (CDPQ), has been selected as part of the divestiture process conducted by Petrobras for its remaining 10% interest in Transportadora Associada de Gás (TAG).
The closing value of this deal amounts to one billion Brazilian reals, or approximately 160 million euros. Through this acquisition, Engie will increase its total stake in TAG to 65%, while CDPQ will hold the remaining 35%.
Following this transaction, Engie will retain the current equity consolidation method. In addition, it expects to increase its net debt by approximately 105 million euros due to this deal.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The closing value of this deal amounts to one billion Brazilian reals, or approximately 160 million euros. Through this acquisition, Engie will increase its total stake in TAG to 65%, while CDPQ will hold the remaining 35%.
Following this transaction, Engie will retain the current equity consolidation method. In addition, it expects to increase its net debt by approximately 105 million euros due to this deal.
Copyright (c) 2020 CercleFinance.com. All rights reserved.