Engie Sells 15% of TAG for R$ 3 Billion to Caisse de Dépôt et Placement du Québec, Boosting Valuation.

Written by Paulo Nogueira

Published on 28/12/2023 at 22:27

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

Seja o primeiro a reagir!

Engie Sold 50% of TAG to Canadian Fund CDPQ on Thursday in a Partial Divestment. The Deal Resulted in a Significant Increase in the Company’s Valuation.

The big news of the day is the sale of 15% of Transportadora Associada de Gás (TAG) by Engie to the Caisse de Dépôt et Placement du Québec (CDPQ) for R$ 3 billion. With this transaction, the Canadian fund and the French group achieve equal participation in the company.

Engie Brasil Energia, which previously held 32.5% of TAG, now owns 17.5% of the company. GDF International, also part of the Engie group, maintains its 32.5% stake. Meanwhile, CDPQ increases its share from 35% to 50% through the wholly-owned subsidiary CDP Groupe Infrastructures Inc.

Engie Seeks Partial Divestment in 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 leverage, ratings, and the company’s payout’, explained Eduardo Takamori, Chief Financial Officer and Investor Relations Director of Engie Brasil Energia.

ARTICLE CONTINUES BELOW

Engie and the Expansion of TAG

Transportadora Associada de Gás (TAG) has the largest natural gas transportation network in Brazil, with a pipeline infrastructure of approximately 4,500 km, located along part of the Southeast and Northeast coasts of the country, in addition to a stretch connecting Urucu to Manaus (AM) in the North region.

The partial sale of TAG is part of Engie’s strategy, along with the Caisse de Dépôt et Placement du Québec (CDPQ), Canadian fund, to execute asset rotation, focusing on new investments and growth opportunities for the company.

Engie and Business Opportunities

The partial divestment in TAG is an alternative for Engie to expand its operations, strengthening its presence in the natural gas transportation sector and seeking new business opportunities.

The company aims to ensure a solid pipeline of projects underway, maintaining its strategic position in the market and seeking new partnerships and investments to expand its operations in the natural gas transportation sector in Brazil.

Source: EPBR

0 Comentários

Mais recente

Mais antigos Mais votado

Feedbacks

Visualizar todos comentários

Engie Sells 15% of TAG for R$ 3 Billion to Caisse de Dépôt et Placement du Québec, Boosting Valuation.

Engie Sold 50% of TAG to Canadian Fund CDPQ on Thursday in a Partial Divestment. The Deal Resulted in a Significant Increase in the Company’s Valuation.

Engie Seeks Partial Divestment in TAG

Engie and the Expansion of TAG

Engie and Business Opportunities

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.

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.

Petrobras robots dove nearly 3,000 meters deep and 201 km off the coast of Rio de Janeiro confirmed what geologists suspected — there is more oil hidden in the pre-salt of Campos.

For the first time in history, an allied nuclear submarine launched and recovered an American drone underwater without surfacing — and the test changes underwater warfare forever.

The first automaker in the world to promise 1,000 real kilometers with a solid-state battery already has a production line set up, 50 cars in operation, and a date set for September 2026.

Engie Sells 15% of TAG for R$ 3 Billion to Caisse de Dépôt et Placement du Québec, Boosting Valuation.

Engie Sold 50% of TAG to Canadian Fund CDPQ on Thursday in a Partial Divestment. The Deal Resulted in a Significant Increase in the Company’s Valuation.

Engie Seeks Partial Divestment in TAG

Engie and the Expansion of TAG

Engie and Business Opportunities

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.

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.

Petrobras robots dove nearly 3,000 meters deep and 201 km off the coast of Rio de Janeiro confirmed what geologists suspected — there is more oil hidden in the pre-salt of Campos.

For the first time in history, an allied nuclear submarine launched and recovered an American drone underwater without surfacing — and the test changes underwater warfare forever.

The first automaker in the world to promise 1,000 real kilometers with a solid-state battery already has a production line set up, 50 cars in operation, and a date set for September 2026.