English 
Spanish 
2 min read
0 comments
Engie sold 50% of TAG to Canadian fund CDPQ on Thursday, in a partial divestment. The agreement resulted in a significant increase in the company's valuation.
The 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 the same stake in the company.
Engie Brasil Energia, which previously owned 32,5% of TAG, now holds 17,5% of the company. GDF International, also part of the Engie group, maintains its 32,5% stake. Meanwhile, CDPQ increases its stake from 35% to 50% through its wholly-owned subsidiary CDP Groupe Infrastructures Inc.
Engie seeks partial divestment in TAG
‘Partial divestment in TAG is an attractive option to implement a asset rotation, at a time when the companhia has a solid pipeline of projects being implemented, without increasing pressure on the company's leverage, ratings and payout', explained Eduardo Takamori, Financial and Investor Relations Director at Engie Brasil Energia.
- Petrobras launches tender for FPSO platforms to serve one of the largest oil regions in Brazil: Sergipe Deep Waters SEAP-I and SEAP-II
- Deadly collapse at Transpetro terminal: Discover the critical error that took the lives of two workers and left one injured in Angra dos Reis
- Vibrant Opportunities in the Natural Gas Market to 2025: Naturgy’s Views
- Petrobras announces that it will sell one of its oil fields, the first since the new president took over the state-owned company
SPORTS AND FITNESS – FREE MARKET
Negotiation represents a significant increase do valuation of the carrier in relation to 2020, when Engie purchased the remaining 10% of Petrobras for R$1 billion in values at the time (R$1,4 billion corrected).
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 corrected).
Engie and the expansion of TAG
Transportadora Associada de Gás (TAG) has the most extensive natural gas transportation network of Brazil, with a gas pipeline infrastructure of approximately 4.500 km, located along part of the Southeast coast and the Northeast coast of the country, in addition to a section that connects Urucu to Manaus (AM), in the North region.
The partial sale of TAG is part of Engie's strategy, together with the Caisse de Dépôt et Placement du Québec (CDPQ), canadian fund, to carry out 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, reinforcing its presence in the natural gas transportation sector and seeking new business opportunities.
The company aims to ensure a solid pipeline of projects being implemented, 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!