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.

ARTICLE CONTINUES BELOW

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

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Partial Divestment In TAG: A Strategic Option

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