Minister Edson Fachin turns back and authorizes the sale of the TAG

During a session held at the Federal Supreme Court (STF), on Thursday, 6, Minister Edson Fachin returned in previous opinion and authorized the sale of the associated carrier of gas S.A. (TAG). Petrobras had already announced the privatization of the subsidiary for the French Engie, for US $8.6 billion, when it was banned by the inlimination issued by Fachin last week.

The Minister revoked the inliminary shortly after the supreme plenary decides that the executive can sell subsidiaries without endorsement of the legislature and without bidding. Despite having revoked Inliminate and released the TAG for sale, Edson Fachin had the same understanding of also Minister Ricardo Lewandowski and voted for the authorization requirement of the legislature for the sale of subsidiaries. However, the only two votes were defeated during the vote at the court.

Engie celebrated by receiving the news of yesterday's decision (6) in the STF and the expectation is that the acquisition by TAG will be completed very soon. "Common sense prevailed," said Maurício Bähr, president of the French company in Brazil. Still according to BÄHR, the process for payment of assets should take place within a week.

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