ENGIE has announced its joint bid with Caisse de dépôt et placement du Québec (CDPQ), has been successful in acquiring the remaining 10 percent stake in Transportadora Associada de Gás S.A. (TAG), as part of the divestment process conducted by Petrobras.
The closing value of the transaction is BRL 1.0 billion ($190 million/€160 million).
With this acquisition, ENGIE’s total equity holdings in TAG increase to 65 percent, of which 32.5 percent is held by ENGIE Brasil Energia, while CDPQ will hold the remaining 35 percent. After completion of this deal, ENGIE will keep the current equity consolidation method. In addition, ENGIE expects a net debt impact of approximately €105 million ($120 million) related to this transaction.
TAG is the largest natural gas transporter in Brazil, with a gas pipeline infrastructure of approximately 4,500 kilometers (2,800 miles), located along the seaboard of the southeast and northeast regions as well as a further stretch
