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Engie-led consortium buys Petrobras’s pipeline unit TAG for USD 8.6 bn

Engie has won a bid for TAG, the pipeline unit of Brazil’s Petrobras, with an offer of USD 8.6 billion, boosting Engie’s presence on a fast-growing sector and helping Petrobras cut its debts, according to Reuters. Engie’s offer for a 90 percent stake in TAG was made through a consortium that includes Engie and Canada’s Caisse de Dépôt et Placement du Québec (CDPQ). TAG accounts for 47 ...

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