ENGIE announces that its joint bid with Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec (CDPQ), a global institutional investor, has been successful in acquiring the remaining 10% stake in Transportadora Associada de G\u00e1s S.A. (TAG), as part of the divestment process conducted by Petrobras. The closing value of the transaction is BRL 1.0 billion, approximately EUR 160 million. With this acquisition, ENGIE\u2019s total equity holdings in TAG increase to 65% (of which 32.5% is held by ENGIE Brasil Energia) while CDPQ will hold the remaining 35%. After completion of this deal, ENGIE will keep the current equity consolidation method. In addition, ENGIE expects a net debt impact of approximately EUR 105 million related to this transaction.<\/p>\n

This acquisition follows the prior acquisition by Engie and CDPQ, in June 2019, of a 90% shareholding in TAG. TAG\u2019s capacity is fully contracted on the basis of ship-or-pay clauses with an average residual duration of 11 years and will be regulated afterwards. <\/p>\n

Mauricio B\u00e4hr, CEO of ENGIE Brasil said: \u201cWe have been operating in Brazil for almost 25 years with a long-term investment focus. This acquisition allows us to invest further in an asset we know, capitalizing on our expertise in networks, in a key country for ENGIE.\u201d<\/p>\n

TAG is the largest natural gas transporter in Brazil with a gas pipeline infrastructure of approximately 4,500 km, located along the seaboard of the southeast and northeast regions as well as a further stretch connecting Urucu to Manaus (AM). The network represents 47% of the country\u2019s entire gas infrastructure, and has further development potential such as network extension, additional connections, gas storage development and green gases transport.
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\nAbout CAISSE DE D\u00c9P\u00d4T ET PLACEMENT DU QU\u00c9BEC <\/p>\n

Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2019, it held CA$340.1 billion in net assets. As one of Canada\u2019s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.<\/p>\n","protected":false},"excerpt":{"rendered":"

The consortia had indicated its interest in acquiring the remaining 10% since the very beginning of the competitive selling process when it was contemplating the acquisition of the 90%. <\/p>\n","protected":false},"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-26518","imprensa","type-imprensa","status-publish","format-standard","hentry","tipo-release-holding-en"],"acf":[],"yoast_head":"\n