Jones Day advises ENGIE on TAG acquisition
Jones Day has advised French energy company ENGIE on its $8.7 billion acquisition of 90 per cent of Transportadora Associada de Gás (TAG), the largest natural gas transmission network owner in Brazil, from Brazilian state oil company Petrobras.
The firm’s lawyers Marcello Hallake (pictured) and S. Wade Angus acted for ENGIE.
The acquisition was made by the joint venture formed between ENGIE and Canadian equity fund Caisse de Dépôt et Placement du Québec (CDPQ).
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.
The divestment is part of the state oil company’s portfolio streamlining and improvement of its capital allocation, Petrobras said in a press release.
