French natural gas multinational ENGIEJones Day, Six Other Firms Advise on ENGIE's $8.7BN Acquisition of Brazilian Gas Company
The $8.7 billion acquisition of TAG, Brazil's largest natural gas transmission network, was made by French multinational ENGIE and Canadian equity fund Caisse de Dépôt et Placement du Québec.
June 26, 2019 at 05:22 PM
2 minute read
A team of Jones Day lawyers led by Marcello Hallake, S. Wade Angus and Robert da Silva Ashley advised French natural gas multinational ENGIE on the purchase of a 90% stake in Transportadora Associada de Gás SA, or TAG, from Brazilian state oil company Petróleo Brasileiro SA (Petrobras).
The $8.7 billion acquisition of TAG, Brazil's largest natural gas transmission network, was made by a consortium composed of ENGIE S.A, ENGIE Brasil Energia and Caisse de dépôt et placement du Québec (CDPQ). Petrobras will maintain a 10% equity stake in TAG.
Local counsel for ENGIE on the regulatory side was Paulo Valois of SVMFA. Frederico Moura of Stocche Forbes handled the Brazilian financing.
Petrobras was represented by Arthur Peteado and Daniel Szyfman of Brazilian firm Machado, Meyer, Sendacz E Opice. Mayer Brown partner Alexandre Chequer was counsel to CDPQ. White & Case partner John Anderson advised U.S. lenders, while Lobo De Rizzo attorney Fabrizio Sasdelli advised Brazilian lenders.
Petrobras will continue to use natural gas transportation services rendered by TAG through contracts already in place between the two companies, and there will be no impact on its operations and the delivery of natural gas to its clients, the company said in a statement.
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