Engie Sells 15% of TAG for R$ 3 Billion: Expands Benefits for the Company.

Written by Paulo Nogueira

Published on 28/12/2023 at 20:06

Updated on 28/12/2023 at 20:07

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Company Announces Increase In Participation With Canadian Fund CDPQ In Natural Gas Transport Company, Reaching 50% Valuation.

Engie has made an important transaction, announcing the sale of 15% of TAG to the Caisse de Dépôt et Placement du Québec (CDPQ) for R$ 3 billion. With this, the Canadian fund becomes a relevant shareholder in TAG, sharing the same stake as the French group.

Engie Brasil Energia, which currently holds 32.5% of TAG, will adjust its stake to 17.5%, while GDF International, another subsidiary of the Engie group, will maintain its 32.5% stake in TAG. CDPQ, in turn, increases its stake in TAG from 35% to 50% through the wholly-owned subsidiary CDP Groupe Infrastructures Inc, further strengthening its presence in the energy sector.

Partial Divestment In TAG: A Strategic Option

‘The decision for partial divestment in TAG is seen as an attractive possibility 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.

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Associated Gas Transporter: An Extensive Transport Network

TAG holds the most extensive natural gas transport network in Brazil, with a pipeline infrastructure of approximately 4,500 km, located along part of the Southeast and Northeast coasts of the country, as well as a section connecting Urucu to Manaus (AM) in the North region.

Source: EPBR

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Engie Sells 15% of TAG for R$ 3 Billion: Expands Benefits for the Company.

Company Announces Increase In Participation With Canadian Fund CDPQ In Natural Gas Transport Company, Reaching 50% Valuation.

Partial Divestment In TAG: A Strategic Option

Associated Gas Transporter: An Extensive Transport Network

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