Engie and CDPQ Acquire Remaining 10% Stake in Brazil's TAG
21 July 2020 - 8:01PM
Dow Jones News
By Olivia Bugault
Engie SA Tuesday said, together with institutional investor
Caisse de Depot et Placement du Quebec, it has acquired the
remaining 10% stake in Transportadora Associada de Gas SA from
Petroleo Brasileiro SA, also known as Petrobras.
With this transaction--whose closing value is of roughly 160
million euros ($183 million)--the French utility now owns a 65%
stake in the Brazilian natural gas transporter, including 32.5%
held by Engie Brasil Energia. CDPQ holds the remaining 35%, it
said.
"Engie expects a net debt impact of approximately EUR105 million
related to this transaction," the company said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
July 21, 2020 05:46 ET (09:46 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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