Engie: Sale of 15% of TAG by Engie Values the Carrier at R$ 3 Billion.

Written by Paulo Nogueira

Published on 28/12/2023 at 22:06

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

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Engie Sells 50% of TAG to Canadian Fund CDPQ in Thursday Announcement. Attractive Deal with Significant Increase in the Valuation of the Gas Carrier.

The sale of 15% of Transportadora Associada de Gás (TAG) to Caisse de Dépôt et Placement du Québec (CDPQ) marks another major move by Engie in the energy market. With the transaction of R$ 3 billion, the French company reinforces its strategic presence in the sector and consolidates international partnerships to drive growth.

Engie Brasil Energia, which held 32.5% of TAG, now has a reduced stake of 17.5%. Meanwhile, GDF International maintains its 32.5% share in the carrier. With CDPQ increasing its stake to 50%, TAG’s transport network becomes even stronger, consolidating the importance of the partnership between the two companies in the pipeline sector.

Engie: Announcement of Partial Divestment in TAG

The partial divestment in TAG is an attractive option to implement an asset rotation, at a strategic moment when Engie Brasil Energia has a solid pipeline of projects in implementation. This move will allow the company to achieve its goals without increasing pressure on leverage, ratings, and payout of the Company,’ explained Eduardo Takamori, Chief Financial Officer and Investor Relations Director of Engie Brasil Energia.

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Engie and CDPQ: Participation in the Gas Carrier Market

On Thursday, Engie and the Canadian fund Caisse de Dépôt et Placement du Québec (CDPQ) announced the intention to make a partial divestment in Transportadora Associada de Gás (TAG). This strategic move will allow Engie Brasil Energia to implement an asset rotation while maintaining a solid pipeline of projects in implementation, without increasing pressure on leverage, ratings, and payout of the Company,’ as explained by Eduardo Takamori, Chief Financial Officer and Investor Relations Director of Engie Brasil Energia.

This announcement 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 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).

Source: EPBR

Engie: Sale of 15% of TAG by Engie Values the Carrier at R$ 3 Billion.

Engie Sells 50% of TAG to Canadian Fund CDPQ in Thursday Announcement. Attractive Deal with Significant Increase in the Valuation of the Gas Carrier.

Engie: Announcement of Partial Divestment in TAG

Engie and CDPQ: Participation in the Gas Carrier Market

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Engie: Sale of 15% of TAG by Engie Values the Carrier at R$ 3 Billion.

Engie Sells 50% of TAG to Canadian Fund CDPQ in Thursday Announcement. Attractive Deal with Significant Increase in the Valuation of the Gas Carrier.

Engie: Announcement of Partial Divestment in TAG

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