© Reuters. FILE PHOTO: The Engie logo is seen during the company's annual general meeting of shareholders in Paris, France, April 26, 2023. REUTERS/Sarah Meyssonnier/File Photo
SAO PAULO (Reuters) -Engie Brasil said on Thursday it had reached an agreement to sell a 15% stake in oil pipeline company TAG to Canadian investment fund Caisse de Depot et Placement du Quebec (CDPQ) for 3.1 billion reais ( 641 million dollars).
Once the deal is closed, CDPQ will increase its stake in TAG to 50%, while Engie Brasil will own 17.5% and its French parent will hold the remainder, giving it an indirect 50% stake.
In 2019, Engie and CDPQ jointly acquired a 90% stake in TAG from state oil company Petrobras for around $8.6 billion, and bought the remainder the following year.
TAG owns and operates a large portion of Brazil's gas pipelines with some 4,500 kilometers (2,800 miles) in 10 Brazilian states.
($1 = 4.8501 reais)
