ENGIE Brasil Energia sells 15% of TAG’s shares to CDPQ
ENGIE Brasil Energia, the largest 100% renewable energy company in Brazil, and CDPQ, a global investment group, today announced an agreement for the sale by ENGIE Brasil Energia of a 15%
The transaction is valued at BRL 3.1
Following this investment, CDPQ will have increased governance rights, similar to those of ENGIE, with respect to TAG. This announcement follows the prior acquisition of a 90%
“The partial sale of ENGIE Brasil Energia's stake in TAG is in line with our investment plan in new renewables power plants, as well as transmission lines, enabling the best allocation of capital in these two segments that are at the center of our growth strategy”, said Eduardo Sattamini, CEO of ENGIE Brasil
Energia.
“TAG has delivered strong performance since our initial investment about five years ago. Today’s announcement is consistent with our infrastructure strategy: in this instance, reinvesting in a portfolio company with well-contracted assets, led by a seasoned management team, and in Brazil, a country where we intend to keep growing our portfolio in the next few
years”, said Emmanuel Jaclot, Executive Vice President and Head of Infrastructure at CDPQ.
Financial close is expected by the end of January
ABOUT TAG
TAG owns and manages an important portion of Brazil’s natural gas transportation assets, spanning over 4,500
ABOUT ENGIE
ENGIE is a global reference in low-carbon energy and services. With its 96,000
In Brazil, ENGIE, a leader in renewable power generation in the country, operates in generation, commercialization and transmission of electric power, gas transport and energy solutions. With 2,400
About CDPQ
At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June
CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.
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