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

Written by Paulo Nogueira

Published on 29/12/2023 at 01:08

Oil and Gas

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

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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

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Paulo Nogueira

Graduated in Electrical Engineering from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), he worked for several years in the offshore oil and gas, energy, and construction sectors. Today, with over 8,000 publications in online magazines and blogs on the energy sector, the focus is to provide real-time information on the Brazilian job market, macro and microeconomics, and entrepreneurship. For questions, suggestions, and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes at this contact.

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

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