Rio de Janeiro, 17 May 2019 - A Mayer Brown team represented Engie and La Caisse de dépôt et placement du Québec (CDPQ) in the acquisition of a 90% shareholding stake in gas transportation company Transportadora Associada de Gás S.A. – TAG, with a final and binding offer amounting to USD 8.6 billion.
Engie will have a stake of 58.5% and CDPQ will have a stake of 31.5% in the asset, while Petrobras will maintain a 10% stake in TAG’s capital. The acquisition of TAG – the largest natural gas transportation company in Brazil, with approximately 4,500 km of gas pipeline infrastructure located along the coast of the Northeast and Southeast regions, in addition to a pipeline in the North region -- is a highlight of Petrobras’ divestment program and the largest privatization ever in Brazil. Gas is becoming a strategic energy source in the country, and this is Engie’s debut in the natural gas segment. This deal is also CDPQ's first infrastructure investment in Brazil.
The team was led by Corporate & Securities partner Alexandre Chequer and included: Corporate & Securities — partners Victor Galante and Débora Yanasse, special counsel Tiago Macedo, and associates Dicéa Ferraz, Luciana Sodré, Eduarda Nagle and Lívia Lima; Tax Transactions & Consulting — partner Guido Vinci and counsel Fernanda Bastos; Litigation & Dispute Resolution – partners Luís Adams and Gustavo Fernandes and associates Francisco Mastropietro and Guilherme Silveira; Compliance – partner Michel Sancovski and associates Maria Eugenia Kanazawa and Luiz Santiago; and Real Estate – partners José Paulo Marzagão and Ludmila Braga and associates Fernando Issa and Anna Pedroso.