Announced
Financials
Sources
Tags
Private
Pending
Single Bidder
Acquisition
Cross Border
Brazil
Pipelines
exploration
drilling services
Minority
Private Equity
Friendly
Synopsis
CDPQ, an institutional investor, agreed to acquire an additional 15% stake in Transportadora Associada de Gás, a gas pipelines operator, from ENGIE Brasil, a renewable energy company, for $639m. "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," Emmanuel Jaclot, CDPQ Executive Vice–President and Head of Infrastructure.
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