Engie Strengthens Its Market Presence by Selling 15% of TAG for R$ 3 Billion

Written by Paulo Nogueira

Published on 29/12/2023 at 00:40

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

Be the first to react!

Engie Sells 50% of TAG to Canadian Fund CDPQ on Thursday, Attractive Deal for Increasing Natural Gas Pipeline. Valuation of the Subsidiary Rose Significantly.

Engie announced on Thursday (12/28) the sale transaction of 15% of Transportadora Associada de Gás (TAG) to Caisse de Dépôt et Placement du Québec (CDPQ) for R$ 3 billion. With this operation, the Canadian fund and the French group become equal shareholders in the company. Engie Brasil Energia currently holds 32.5% of TAG and after the transaction, will own 17.5%. GDF International, also belonging to the Engie group, will maintain its 32.5% stake in the company. CDPQ, through its wholly-owned subsidiary CDP Groupe Infrastructures Inc., will increase its stake from 35% to 50% in the Company.

Engie Seeks Partial Divestment in Transportadora Associada de Gás (TAG)

‘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 Group’s leverage, ratings, and payout’, explained Eduardo Takamori, Chief Financial Officer and Investor Relations Director of Engie Brasil Energia.

The transaction represents a significant increase in the valuation of the carrier compared to 2020, when Engie acquired the remaining 10% from Petrobras for R$ 1 billion in values of that time (R$ 1.4 billion adjusted).

ARTICLE CONTINUES BELOW

Engie and CDPQ Acquired 90% of Transportadora Associada de Gás (TAG) in 2019

TAG has the most extensive natural gas transportation network 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 stretch connecting Urucu to Manaus (AM) in the North region.

Agreement between Engie and Petrobras Drives Partial Divestment in TAG

Source: EPBR

Engie Strengthens Its Market Presence by Selling 15% of TAG for R$ 3 Billion

Engie Sells 50% of TAG to Canadian Fund CDPQ on Thursday, Attractive Deal for Increasing Natural Gas Pipeline. Valuation of the Subsidiary Rose Significantly.

Engie Seeks Partial Divestment in Transportadora Associada de Gás (TAG)

Engie and CDPQ Acquired 90% of Transportadora Associada de Gás (TAG) in 2019

Agreement between Engie and Petrobras Drives Partial Divestment in TAG

A village with 115 inhabitants wants new residents: it offers a house, a job, up to 44 thousand euros in benefits, almost free rent, an annual grant of 8 thousand euros for 3 years, and a 20 thousand euro incentive for businesses in the mountains of Italy.

NASA is offering US$ 750,000 to people from anywhere in the world who solve a problem that could decide survival on Mars: creating food for astronauts without relying on resupply from Earth.

While countries spend billions to draw water from the sea, a Nobel-winning scientist creates a container-sized machine that extracts up to 1,000 liters per day from dry air and uses ultrasound to release water in minutes, even in the middle of the desert.

Belgium will sink 23 giant concrete caissons, each weighing 22,000 tons, in the North Sea to build the world’s first artificial energy island 45 km off the coast, forming offshore electrical walls.

New microwave that can replace three appliances hits the market: Sharp launches 3-in-1 model that combines air fryer, convection oven, and heating in 0.9 cubic feet for small kitchens

While Brazil has been discussing bullet trains for 16 years, China delivers 5 new high-speed lines in 2026, surpasses 50,000 km of HSR, and moves 1 billion passengers in a single year.

With an 88-meter wingspan, a capacity of 250 tons, six engines, and 32 wheels, the Ukrainian giant became the greatest symbol of extreme air transport and one of the most impressive machines in aviation history.

Brazil wants to become a military power, and missiles capable of hitting targets up to 200 km away begin to be produced in SIATT’s national factory, which already delivers the first batch to the Army and expands strategic surveillance of the Blue Amazon.

Xiaomi goes beyond cell phones and launches an electric kettle with 316Ti titanium steel, 1,800 W of power, and technology that keeps water hot for 24 hours, does not rust, prevents a metallic taste, and costs around R$ 101 in China.

The IMF shows Brazil’s reality in the coming years and projects the country back into the top 10 largest economies in the world by 2030, with a GDP of US$ 3.20 trillion and a jump of US$ 560 billion in five years.

Goodbye traditional microwave: Brastemp surprises and launches a 23-liter version with Multi-Prep function for brownie, risotto, and brigadeiro, smart weight-based defrosting, QR Code with recipes, and an initial price of R$ 639 in Brazil.

What’s so special about this little Brazilian town to receive R$ 25 billion for a cellulose megafactory and have more people working than inhabitants?

Engie Strengthens Its Market Presence by Selling 15% of TAG for R$ 3 Billion

Engie Sells 50% of TAG to Canadian Fund CDPQ on Thursday, Attractive Deal for Increasing Natural Gas Pipeline. Valuation of the Subsidiary Rose Significantly.

Engie Seeks Partial Divestment in Transportadora Associada de Gás (TAG)

Engie and CDPQ Acquired 90% of Transportadora Associada de Gás (TAG) in 2019

Agreement between Engie and Petrobras Drives Partial Divestment in TAG

A village with 115 inhabitants wants new residents: it offers a house, a job, up to 44 thousand euros in benefits, almost free rent, an annual grant of 8 thousand euros for 3 years, and a 20 thousand euro incentive for businesses in the mountains of Italy.

NASA is offering US$ 750,000 to people from anywhere in the world who solve a problem that could decide survival on Mars: creating food for astronauts without relying on resupply from Earth.

While countries spend billions to draw water from the sea, a Nobel-winning scientist creates a container-sized machine that extracts up to 1,000 liters per day from dry air and uses ultrasound to release water in minutes, even in the middle of the desert.

Belgium will sink 23 giant concrete caissons, each weighing 22,000 tons, in the North Sea to build the world’s first artificial energy island 45 km off the coast, forming offshore electrical walls.

New microwave that can replace three appliances hits the market: Sharp launches 3-in-1 model that combines air fryer, convection oven, and heating in 0.9 cubic feet for small kitchens

While Brazil has been discussing bullet trains for 16 years, China delivers 5 new high-speed lines in 2026, surpasses 50,000 km of HSR, and moves 1 billion passengers in a single year.

With an 88-meter wingspan, a capacity of 250 tons, six engines, and 32 wheels, the Ukrainian giant became the greatest symbol of extreme air transport and one of the most impressive machines in aviation history.

A 45 km² oil slick appears in satellite images near Kharg Island, an area that accounts for 90% of Iran’s oil exports.

While Petrobras operates at 7,000 meters in the pre-salt layer, China is extracting oil and gas at 10,910 meters onshore — Shenditake 1 is the world’s first onshore well to exceed 10 km.

Brazil discovers natural hydrogen in four states and enters the silent race that could redraw the energy transition: Petrobras has already invested R$ 20 million in studies.

Trump promises transparency in Venezuela’s oil, but secret deals and corruption allegations continue to surround the billion-dollar sector.

Oil near US$100 raises tension on Wall Street and amplifies global fear about inflation, energy, and the Middle East crisis

Brazil wants to become a military power, and missiles capable of hitting targets up to 200 km away begin to be produced in SIATT’s national factory, which already delivers the first batch to the Army and expands strategic surveillance of the Blue Amazon.

Xiaomi goes beyond cell phones and launches an electric kettle with 316Ti titanium steel, 1,800 W of power, and technology that keeps water hot for 24 hours, does not rust, prevents a metallic taste, and costs around R$ 101 in China.

The IMF shows Brazil’s reality in the coming years and projects the country back into the top 10 largest economies in the world by 2030, with a GDP of US$ 3.20 trillion and a jump of US$ 560 billion in five years.

Goodbye traditional microwave: Brastemp surprises and launches a 23-liter version with Multi-Prep function for brownie, risotto, and brigadeiro, smart weight-based defrosting, QR Code with recipes, and an initial price of R$ 639 in Brazil.

What’s so special about this little Brazilian town to receive R$ 25 billion for a cellulose megafactory and have more people working than inhabitants?