Petrobras takes bids for remaining stake in TAG

Petrobras takes bids for remaining stake in TAG

M&A Debt Capital Markets Equity Energy Gas Brazil Europe Canada

Brazil's state-owned oil company Petrobras said it has started the non-binding phase to sell its remaining 10% stake in Transportadora Associada de Gás (TAG), following confirmation from the natural gas pipeline's controlling shareholders of their interest in purchasing the stake. Petrobras held on to 10% of TAG after it sold 90% to French energy company Engie and Canadian pension plan Caisse de dépôt et placement du Québec (CDPQ) for $8.6 billion last year.Engie has 58% of TAG and CDPQ has 32%.

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