Petrobras Starts Non-binding Phase For TAG Sale

(Petrobras, 17.Jan.2020) — Petrobras, following up on the press release disclosed on 12/11/2019, announces the beginning of the non-binding phase related to the sale of its remaining stake (10%) in Transportadora Associada de Gás S.A. (TAG).

Potential buyers qualified for this phase will receive a descriptive memorandum with more detailed information about the aforementioned company, as well as instructions on the divestment process, including guidelines for preparing and submitting non-binding proposals.

This disclosure complies with the Petrobras’ divestment guidelines and the special regime of asset divestment by federal mixed capital companies, provided for in Decree 9,188/2017.

This transaction is in line with the portfolio optimization and the improvement of Petrobras’ capital allocation, aiming at maximizing value for its shareholders.

About TAG

TAG is a company operating in the natural gas transportation segment, currently holding long-term permits to operate and manage a 4,500 km gas pipeline system, located mainly in the North and Northeast regions of Brazil, with installed capacity of 75 MM m3/d.

The group formed by ENGIE and the Canadian fund Caisse de Dépôt et Placement du Québec has a 90% stake in TAG, acquired from Petrobras in June 2019.

***

Please follow and like us:
RSS
Follow by Email
Facebook
Facebook
Twitter
Visit Us
LinkedIn
Instagram

Leave a Reply

Your email address will not be published. Required fields are marked *

Close