Schmidt, Valois, Miranda, Ferreira & Agel (“Schmidt Valois”) is honored to announce that the divestment of Transportadora Associada de Gas S.A – TAG was the winner of the“2019 Project & Infrastructure Finance Awards”, in the category Cross-Border M&A Deal of the Year, by the prestigious LatinFinance.

Schmidt Valois has acted for ENGIE as part of the outside counsel team led by Jones Day in the competitive process for acquisition of a 90% equity stake held by “Petróleo  Brasileiro S/A – Petrobras”  in “Transportadora Associada de Gás S.A. – TAG”. The winning offer was presented by a consortium formed by ENGIE and Caisse de Dêpót et Placement du Québec – CDPQ.

TAG is the largest gas transporter in Brazil, with a pipeline infrastructure of approximately 4,500 km, extending throughout the coastline of the Southeast and Northeast of Brazil, also having a part of it connecting Urucu, Coari and Manaus. The pipeline network has 12 gas compression facilities and 91 delivery stations.

According to the market sources, this has been the largest divestment of Petrobras’ history.