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ENGIE-led consortium wins competitive bidding process in Brazil for $8.6 billion acquisition of TAG

June 2019

Jones Day advised ENGIE in the $8.6 billion acquisition and related financing of 90 percent of Transportadora Associada de Gás SA ("TAG"), the largest natural gas transmission network owner in Brazil, from Brazilian state oil company Petróleo Brasileiro SA (Petrobras). The financing consisted of a US$2.45 billion loan facility.

The winning offer for the 90 percent equity stake in TAG was made by a consortium composed of ENGIE S.A, ENGIE Brasil Energia, and Caisse de dépôt et placement du Québec (CDPQ), after a competitive bidding process. Petrobras will maintain a 10 percent equity stake in TAG.

For additional information about this matter, please contact: S. Wade Angus, Marcello Hallake, Robert da Silva Ashley

Client(s): ENGIE