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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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