Engie Finalizes Sale of 15% of TAG for R$ 3 Billion

Written by Paulo Nogueira

Published on 29/12/2023 at 01:08

Eduardo Takamori CEO da Engie (Foto: Divulgação) – Todos os direitos: EPBR

Seja o primeiro a reagir!

Engie Sells 15% Of TAG To Canadian Fund CDPQ, Now With 50% Of The Gas Transport Company. Engie Brazil Energy And GDF International Continue As Shareholders. Valuation Of The Company Linked To Petrobras And Gas Pipeline Infrastructure On The Southeast Coast.

Engie announced today the sale of a portion of the Associated Gas Transporter (TAG) to the Caisse de Dépôt et Placement du Québec (CDPQ) for a significant amount of R$ 3 billion. With this transaction, the Canadian fund and the French company now hold the same stake in TAG.

Engie Brazil Energy, which currently holds 32.5% of TAG, will reduce its stake to 17.5%, while GDF International, another division of the Engie group, will maintain its 32.5% stake. Meanwhile, CDPQ will increase its share from 35% to 50% through its wholly-owned subsidiary CDP Groupe Infrastructures Inc. This negotiation strengthens Engie’s presence in the energy market and expands investment opportunities for the company.

Engie: Partial Divestment And Valuation Of The Carrier

At a strategic moment, Engie analyzed the possibility of a partial divestment in TAG as part of an asset rotation, according to Eduardo Takamori, Chief Financial Officer and Investor Relations Officer of Engie Brazil Energy. The company has a solid pipeline of projects in execution, without adding pressure to leverage, ratings, and payout.

ARTICLE CONTINUES BELOW

GDF International And Engie: Strategic Investments

Engie and CDPQ acquired 90% of TAG in 2019 from Petrobras for R$ 8.6 billion at the time (R$ 11.2 billion adjusted). This move represented a significant boost for both companies, strengthening their stake in the company.

It is noteworthy that TAG holds the most extensive natural gas transportation pipeline network in Brazil, including a pipeline infrastructure of about 4,500 km, covering part of the southeast coast and Northeast, in addition to a segment connecting Urucu to Manaus (AM) in the northern region of the country.

Source: EPBR

0 Comentários

Mais recente

Mais antigos Mais votado

Feedbacks

Visualizar todos comentários

Engie Finalizes Sale of 15% of TAG for R$ 3 Billion

Engie Sells 15% Of TAG To Canadian Fund CDPQ, Now With 50% Of The Gas Transport Company. Engie Brazil Energy And GDF International Continue As Shareholders. Valuation Of The Company Linked To Petrobras And Gas Pipeline Infrastructure On The Southeast Coast.

Engie: Partial Divestment And Valuation Of The Carrier

GDF International And Engie: Strategic Investments

While in Brazil a 10-story building takes 2 years to complete, in China a company stacks pre-fabricated modules and raises the entire building in just 28 hours and 45 minutes.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

Seen from space, an image taken by an astronaut shows in Argentine Patagonia the exact point where a colossal glacier, a turquoise-blue lake, and a greenish arm of water meet, creating one of the rarest and most impressive landscapes in the region.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

On the edge of a huge cliff in China, a bookstore built into a 100-million-year-old cliff becomes an impressive attraction with rows of books embedded directly into the rock.

Japanese destroyer crosses the Taiwan Strait, and China did not like this at all and reacted.

As if building a hospital in 10 days wasn’t enough, China now surprises the world by transforming a jet into an airborne hospital with surgeries and care on board.

India has connected for the first time a nuclear reactor that generates more fuel than it consumes — it produces 500 MW, cost nearly $1 billion, took 22 years, and places the country among the few with this technology in the world.

Suape Port is receiving R$ 15.8 billion to become the largest green hydrogen hub in Latin America — and a partnership with China promises an additional R$ 8 billion.

Engie Finalizes Sale of 15% of TAG for R$ 3 Billion

Engie Sells 15% Of TAG To Canadian Fund CDPQ, Now With 50% Of The Gas Transport Company. Engie Brazil Energy And GDF International Continue As Shareholders. Valuation Of The Company Linked To Petrobras And Gas Pipeline Infrastructure On The Southeast Coast.

Engie: Partial Divestment And Valuation Of The Carrier

GDF International And Engie: Strategic Investments

While in Brazil a 10-story building takes 2 years to complete, in China a company stacks pre-fabricated modules and raises the entire building in just 28 hours and 45 minutes.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

Seen from space, an image taken by an astronaut shows in Argentine Patagonia the exact point where a colossal glacier, a turquoise-blue lake, and a greenish arm of water meet, creating one of the rarest and most impressive landscapes in the region.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

The government will pay R$ 1.20 for each liter of diesel that Brazil imports and for the first time in history requires distributors to reveal how much they profit — those who hide their margins will face fines of up to R$ 500 million…

Under kilometers of water, rock, and salt, Brazil hides a colossal wealth that led an official guide from the U.S. government to recognize the country as the owner of the largest ultra-deep oil reserves in the world.

Iran said that the Strait of Hormuz is open, but in practice only 1 non-Iranian oil tanker managed to cross in 24 hours — before the blockade, 100 ships passed per day.

Petrobras completes 1,300 hours of work and 15 km of subsea lines to connect the Búzios 90 well to the P-79 — the platform is ready to produce 180,000 barrels per day and is just awaiting ANP approval.

Iran declares the Strait of Hormuz completely open this Friday, and the price of oil plummets nearly 10% in a few hours — the largest drop since the beginning of the conflict.

On the edge of a huge cliff in China, a bookstore built into a 100-million-year-old cliff becomes an impressive attraction with rows of books embedded directly into the rock.

Japanese destroyer crosses the Taiwan Strait, and China did not like this at all and reacted.

As if building a hospital in 10 days wasn’t enough, China now surprises the world by transforming a jet into an airborne hospital with surgeries and care on board.

India has connected for the first time a nuclear reactor that generates more fuel than it consumes — it produces 500 MW, cost nearly $1 billion, took 22 years, and places the country among the few with this technology in the world.

Suape Port is receiving R$ 15.8 billion to become the largest green hydrogen hub in Latin America — and a partnership with China promises an additional R$ 8 billion.