Engie Sells 15% of TAG for R$ 3 Billion: CDPQ Increases Stake in the Company

Written by Paulo Nogueira

Published on 28/12/2023 at 19:53

Seja o primeiro a reagir!

Company Sells 50% of Natural Gas Transporter to Canadian Fund CDPQ, Expanding Pipeline and Transport Network Projects.

Engie announced on Thursday (01/10) the sale of part of its stake in Transportadora Associada de Gás (TAG) to the Caisse de Dépôt et Placement du Québec (CDPQ) for R$ 3 billion. With this transaction, the Canadian fund and the French group now have the same share in the company.

Engie Brasil Energia, which currently holds 32.5% of TAG, will reduce its stake to 17.5%. Meanwhile, GDF International, also part of the Engie group, will maintain its 32.5% stake. CDPQ will increase its share from 35% to 50% through the wholly owned subsidiary CDP Groupe Infrastructures Inc.

TAG: Divestment Opportunity

An attractive option for implementing asset rotation is the partial divestment in TAG, at a time when Transportadora Associada de Gás has a solid pipeline of projects in implementation. This occurs without increasing pressure on the leverage, ratings, and payout of the company, explained Eduardo Takamori, Chief Financial Officer and Investor Relations Director at Engie Brasil Energia.

ARTICLE CONTINUES BELOW

Valuation of Transportadora Associada de Gás

The negotiation represents a significant increase in the valuation of Transportadora Associada de Gás compared to 2020. That year, Engie purchased the remaining 10% from Petrobras for R$ 1 billion at the time (R$ 1.4 billion adjusted).

Sale of Petrobras’ Stake in TAG

Petrobras sold 90% of TAG in 2019 to Engie and CDPQ for R$ 8.6 billion at the time (R$ 11.2 billion adjusted), marking a milestone in the history of sector negotiations.

Largest Pipeline Network in Brazil

TAG has the most extensive transport network for natural gas in Brazil, with a pipeline infrastructure of approximately 4,500 km. The network is located along part of the Southeast and Northeast coastlines of the country, in addition to a stretch connecting Urucu to Manaus (AM) in the North region, making it a significant asset in the natural gas transportation market.

Source: EPBR

0 Comentários

Mais recente

Mais antigos Mais votado

Feedbacks

Visualizar todos comentários

Engie Sells 15% of TAG for R$ 3 Billion: CDPQ Increases Stake in the Company

Company Sells 50% of Natural Gas Transporter to Canadian Fund CDPQ, Expanding Pipeline and Transport Network Projects.

TAG: Divestment Opportunity

Valuation of Transportadora Associada de Gás

Sale of Petrobras’ Stake in TAG

Largest Pipeline Network in Brazil

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While in Brazil a 10-story building takes 2 years to complete, in China a company stacks pre-fabricated modules and raises the entire building in just 28 hours and 45 minutes.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

While in Brazil Ferrogrão has been waiting for 40 years, China has drilled through 19 seismic faults and dug a 34 km tunnel under mountains to build the world’s most difficult railway in 14 years…

While the world accelerates a new arms race, Brazil falls behind, suffers from historical delays, and raises alarms in defense; see the analysis from the expert.

NASA will ignite a fire on the Moon in an unprecedented test by the end of 2026 and measure flames in lunar gravity to enhance the safety of astronauts on Artemis missions.

US$ 7.3 billion, trains at 350 km/h, and over 6 million passengers in just one year transform the railway built by China in Indonesia into a new mobility axis that could redefine transportation in Southeast Asia.

Pine nut production is expected to drop by up to 35% and the harvest is delayed, but 2028 appears as a major turning point with a chance of a much larger crop.

Engie Sells 15% of TAG for R$ 3 Billion: CDPQ Increases Stake in the Company

Company Sells 50% of Natural Gas Transporter to Canadian Fund CDPQ, Expanding Pipeline and Transport Network Projects.

TAG: Divestment Opportunity

Valuation of Transportadora Associada de Gás

Sale of Petrobras’ Stake in TAG

Largest Pipeline Network in Brazil

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While in Brazil a 10-story building takes 2 years to complete, in China a company stacks pre-fabricated modules and raises the entire building in just 28 hours and 45 minutes.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

Under kilometers of water, rock, and salt, Brazil hides a colossal wealth that led an official guide from the U.S. government to recognize the country as the owner of the largest ultra-deep oil reserves in the world.

Iran said that the Strait of Hormuz is open, but in practice only 1 non-Iranian oil tanker managed to cross in 24 hours — before the blockade, 100 ships passed per day.

Petrobras completes 1,300 hours of work and 15 km of subsea lines to connect the Búzios 90 well to the P-79 — the platform is ready to produce 180,000 barrels per day and is just awaiting ANP approval.

Iran declares the Strait of Hormuz completely open this Friday, and the price of oil plummets nearly 10% in a few hours — the largest drop since the beginning of the conflict.

While the world was paying more for fuel, the 100 largest oil companies on the planet raked in an extra $23 billion in just 30 days of blockage in the Strait of Hormuz.

While in Brazil Ferrogrão has been waiting for 40 years, China has drilled through 19 seismic faults and dug a 34 km tunnel under mountains to build the world’s most difficult railway in 14 years…

While the world accelerates a new arms race, Brazil falls behind, suffers from historical delays, and raises alarms in defense; see the analysis from the expert.

NASA will ignite a fire on the Moon in an unprecedented test by the end of 2026 and measure flames in lunar gravity to enhance the safety of astronauts on Artemis missions.

US$ 7.3 billion, trains at 350 km/h, and over 6 million passengers in just one year transform the railway built by China in Indonesia into a new mobility axis that could redefine transportation in Southeast Asia.

Pine nut production is expected to drop by up to 35% and the harvest is delayed, but 2028 appears as a major turning point with a chance of a much larger crop.