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ID - Petrobras sells off most of gas transporter TAG for $8.6B - April 2019
French power producer Engie and the Canadian pension fund Caisse de dépôt
et placement du Québec will buy a 90% stake in the Transportadora Associada de
Gas SA from Brazil’s Petrobras for $8.6 billion. The new owners will issue new debt
to allow TAG, Brazil’s largest storage and transportation network, to repay
its current debt holders and to maintain a 70:30 debt-to-equity ratio. TAG
has operated as a Petrobras
subsidiary since June 2014.
Engie will take over operations and
maintenance of TAG’s......
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