Schmidt, Valois, Miranda, Ferreira & Agel (“Schmidt Valois”) is honored to have 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 of R$ 35.1 Bn 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.

The closing of the transaction is subject to regulatory and corporate approvals, amongst other usual conditions precedent for transactions of this nature.

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