Polymerupdate Press Release - Petrobras closes the sale of TAG
  +(91-22) 61772000 (25 Lines)
   |   GST ID : 27AAECS6989F1ZS
   |   CIN : U72200MH2000PTC125470

Petrobras closes the sale of TAG

Petrochemical industry | 14 Jun 2019 | Polymerupdate.com
Petrobras, following up on the release disclosed on 04/25/2019, informs that it has closed the sale of 90% of its stake in the Transportadora Associada de Gás S.A. ("TAG") to the group formed by ENGIE and the Canadian fund Caisse de Dépôt et Placement du Québec (CDPQ).

The transaction closed today with a total payment of R$ 33.5 billion to Petrobras, with approximately R$ 2 billion destined to settle TAG~s debt with BNDES.

Petrobras will continue to use natural gas transportation services rendered by TAG, through contracts already in force between the two companies, with no impacts on its operations and the delivery of natural gas to its clients.

This operation is in line with the company~s portfolio optimization and improvement of its capital allocation, aiming value generation for our shareholders.

This report on Form 6-K shall be deemed to be incorporated by reference into the Preliminary Prospectus Supplement, dated June 10, 2019, relating to the previously announced offer by Caixa Econômica Federal of common shares, including common shares represented by American depositary shares, of Petróleo Brasileiro S.A. – Petrobras.
Note: This story has not been edited by The Polymerupdate Editorial team and is auto-generated from a syndicated feed.
<     Prev news Next news     >

Polymerupdate perpetual and fresh feed of latest happenings in the Petrochemical and Polymer Industry is presented through the Press Releases section, which help our clients to gain a good sense of the current trade environment. This information is instrumental for future strategies.

back to list