TAG is sold to French and Canadian

Petrobras concluded the sale process of 90% of its participation in the TAG (carrier associated gas S.A.) for the group formed by the French Engie and the Canadian fund Caisse de Dépôt et Placement du Québec (CDPQ). The transaction took place on Thursday (13), in the amount of R $33.5 billion.

Of the R $33.5 billion paid, R $2 billion will be transferred to the liquidation of the TAG debt with BNDES (National Bank for Economic and Social development). In a statement, the state said that "Petrobras will continue to use the natural gas transportation services provided by the TAG, through contracts already in force between the two companies, without any impact on their operations and on the delivery of natural gas to their Customers ".

Sale after standoff
The sale had been suspended by Inlimination issued in May by the Federal Supreme Court (STF) minister, Edson Fachin, who determined that the privatization process of the subsidiary occurred through bidding. However, a week later, during a plenary session, after voting by the ministers who determined that the executive can sell subsidiaries without the endorsement of the legislature and without bidding, Fachin revoked the decision and allowed the sale of the gas distributor Natural.

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