Engie Completes Sale of 15% of TAG for R$ 3 Billion – Transaction Finalized

Written by Paulo Nogueira

Published on 28/12/2023 at 20:56

Be the first to react!

Company Sold 50% of Gas Subsidiary to Canadian Fund CDPQ in Strategic Divestment.

Engie, one of the largest companies in the energy sector, announced today the sale of 15% of the Transportadora Associada de Gás (TAG) to the Caisse de Dépôt et Placement du Québec (CDPQ) for R$ 3 billion. With this transaction, the Canadian fund and the French group will have equal stake in the company.

Engie Brasil Energia, a subsidiary of Engie, currently holds 32.5% of TAG and after the transaction, will own 17.5%. GDF International, also belonging to the Engie group, will retain its 32.5% stake. Meanwhile, CDPQ will increase its share from 35% to 50% through the wholly-owned subsidiary CDP Groupe Infrastructures Inc.

Engie: Divestment and Asset Rotation

‘The partial divestment in TAG is an attractive option to implement an asset rotation, at a time when the Company has a solid pipeline of projects underway, without increasing pressure on the Company’s leverage, ratings, and payout’, explained Eduardo Takamori, Chief Financial Officer and Investor Relations Director at Engie Brasil Energia.

ARTICLE CONTINUES BELOW

Valuation of TAG: Engie Ahead

The negotiation represents a significant increase in the valuation of the transporter compared to 2020, when Engie bought the remaining 10% from Petrobras for R$ 1 billion at the time (R$ 1.4 billion adjusted).

Petrobras sold 90% of TAG in 2019 to Engie and CDPQ for R$ 8.6 billion at the time (R$ 11.2 billion adjusted).

TAG: Pipeline Infrastructure

TAG owns the largest transport network of natural gas in Brazil, with a pipeline infrastructure of approximately 4,500 km, located along part of the Southeast and Northeast coast of the country, as well as a segment linking Urucu to Manaus (AM) in the North region.

Source: EPBR

0 Comments

most recent

older Most voted

Engie Completes Sale of 15% of TAG for R$ 3 Billion – Transaction Finalized

Company Sold 50% of Gas Subsidiary to Canadian Fund CDPQ in Strategic Divestment.

Engie: Divestment and Asset Rotation

Valuation of TAG: Engie Ahead

TAG: Pipeline Infrastructure

Libya built over 4,000 kilometers of underground pipelines to bring water from the Sahara to coastal cities in a project that the government itself called the Eighth Wonder of the World.

Desert sand, previously discarded for being too smooth for concrete, becomes an ecological brick in the United Arab Emirates, dispensing with Portland cement, curing at room temperature, and attempting to transform dunes useless for construction into raw material for a new arid engineering.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Toyota launches “family hybrid van” with 7 or 8 seats, 1.8 hybrid engine, fuel consumption of up to 23.8 km/l, and a price equivalent to about R$ 104,000 without taxes, below the Tiggo 8 Pro Plug-in Hybrid sold in Brazil: meet the Noah Hybrid 2026 in Japan.

Described by astronauts as one of the most unlikely natural phenomena on Earth, the Okavango Delta spreads over up to 15,000 square kilometers in the middle of the desert and transforms Botswana into a living labyrinth of channels, islands, and flooded areas.

Chinese woman planted trees for decades while sand buried part of her house, received $5,000 from an American in 1999, and helped transform the desert into a forest of 8 million trees in China.

They wanted artificial intelligence, but they drained the water from a village in Mexico: the water consumption of data centers caused a hepatitis outbreak, and big tech companies Amazon, Microsoft, and Google were forced to halt billion-dollar projects.

System created to save lives in disasters turned ‘against’ Brazilians overnight: a hacker attack sent out a false alert from Civil Defense with the word “misantropia” that went off on the phones of half the country, even in silent mode, and took down the Cell Broadcast.

NASA captured by satellite an underwater volcano erupting in the Bismarck Sea, in the Pacific, and now scientists are waiting to see if a new island will be born there in front of the cameras, a very rare phenomenon to witness live from space.

The Atacama Desert, the driest place on Earth, was covered in flowers and turned into a colorful carpet with more than 200 species in the phenomenon called “desert bloom,” when atypical rains awaken seeds that had remained dormant in the soil for many years.

In the cold desert of Ladakh, where it hardly rains, engineer Sonam Wangchuk created the ice stupa, a tower that freezes winter water and stores it for irrigating crops in the spring, a simple engineering feat that mimics nature.

Engie Completes Sale of 15% of TAG for R$ 3 Billion – Transaction Finalized

Company Sold 50% of Gas Subsidiary to Canadian Fund CDPQ in Strategic Divestment.

Engie: Divestment and Asset Rotation

Valuation of TAG: Engie Ahead

TAG: Pipeline Infrastructure

Libya built over 4,000 kilometers of underground pipelines to bring water from the Sahara to coastal cities in a project that the government itself called the Eighth Wonder of the World.

Desert sand, previously discarded for being too smooth for concrete, becomes an ecological brick in the United Arab Emirates, dispensing with Portland cement, curing at room temperature, and attempting to transform dunes useless for construction into raw material for a new arid engineering.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Toyota launches “family hybrid van” with 7 or 8 seats, 1.8 hybrid engine, fuel consumption of up to 23.8 km/l, and a price equivalent to about R$ 104,000 without taxes, below the Tiggo 8 Pro Plug-in Hybrid sold in Brazil: meet the Noah Hybrid 2026 in Japan.

Described by astronauts as one of the most unlikely natural phenomena on Earth, the Okavango Delta spreads over up to 15,000 square kilometers in the middle of the desert and transforms Botswana into a living labyrinth of channels, islands, and flooded areas.

Chinese woman planted trees for decades while sand buried part of her house, received $5,000 from an American in 1999, and helped transform the desert into a forest of 8 million trees in China.

Petrobras is expected to complete the drilling of the Morpho well in the Foz do Amazonas in August 2026, the first well in the Equatorial Margin, an oil frontier that the ANP estimates at more than 30 billion barrels and could redraw the map of Brazil.

Oil returns to the center of concerns with tension between the US and Iran

IEA reduces forecast for global oil demand in 2026 after impacts of the Middle East crisis

Bank of Japan raises interest rates to 1%, reaching the highest level in over three decades

ANP halts LPG reform, and Sindigás sees technical caution as a decisive point for safety, investments, and the future of the cylinder in Brazil.

They wanted artificial intelligence, but they drained the water from a village in Mexico: the water consumption of data centers caused a hepatitis outbreak, and big tech companies Amazon, Microsoft, and Google were forced to halt billion-dollar projects.

System created to save lives in disasters turned ‘against’ Brazilians overnight: a hacker attack sent out a false alert from Civil Defense with the word “misantropia” that went off on the phones of half the country, even in silent mode, and took down the Cell Broadcast.

NASA captured by satellite an underwater volcano erupting in the Bismarck Sea, in the Pacific, and now scientists are waiting to see if a new island will be born there in front of the cameras, a very rare phenomenon to witness live from space.

The Atacama Desert, the driest place on Earth, was covered in flowers and turned into a colorful carpet with more than 200 species in the phenomenon called “desert bloom,” when atypical rains awaken seeds that had remained dormant in the soil for many years.

In the cold desert of Ladakh, where it hardly rains, engineer Sonam Wangchuk created the ice stupa, a tower that freezes winter water and stores it for irrigating crops in the spring, a simple engineering feat that mimics nature.