A consortium led by Engie has won a bidding process in Brazil to acquire the country's largest natural gas transmission firm Transportadora Associada de Gás S.A. (TAG).
Engie and its partners are acquiring a 90% stake in TAG for $8.6 billion.
Engie alone will own 49.3% stake in TAG.
TAG assets consists of 4,500 kilometers of gas pipelines, which represents 47% of the country’s entire gas infrastructure.
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Source: Smart Energy International