Portuguese 
English 
Spanish 
2 min of reading 
0 comments 
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.
-
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.
The negotiation represents a significant increase in the valuation of the transporter compared to 2020, when Engie purchased the remaining 10% from Petrobras for R$ 1 billion in values at the time (R$ 1.4 billion adjusted).
Petrobras sold 90% of TAG in 2019 to Engie and CDPQ for R$ 8.6 billion in values at the time (R$ 11.2 billion adjusted).
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
Be the first to react!