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STX:ENGI, Apr 25, 02:35 UTC

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Saturday, April 20


News

France's Engie is weighing a takeover of Emcor

ENGI

France's Engie is weighing a takeover of Emcor - Bloomberg. April 20 (Reuters) - French utility Engie SA is considering a takeover of Emcor Group Inc, as it seeks to expand in the U.S. market, Bloomberg said on Saturday, citing people familiar with the matter. Engie is working with advisers to pursue a deal for the U.S.-based electrical and mechanical construction and facilities sevices firm, according to the report. Earlier this month a consortium led by Engie won a bid for Petrobras' TAG pipeline arm with an $8.6 billion offer, in a bid to boost the company's presence in the fast-growing Brazil market. Neither Engie nor Emcor immediately responded to Reuters' request for comment.

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Wednesday, April 17


News

Royal Bank of Canada Reiterates €14.50 Price Target for Engie (EPA:ENGI)

ENGI

Royal Bank of Canada set a €14.50 ($16.86) price target on Engie (EPA:ENGI) in a research report sent to investors on Tuesday, April 2nd, Borsen Zeitung reports. The firm currently has a neutral rating on the stock. Kepler Capital Markets set a €15.30 ($17.79) price objective on shares of Engie and gave the company a buy rating in a report on Thursday, December 6th. Engie presently has an average rating of Buy and an average target price of €15.41 ($17.91).

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Monday, April 08


News

Engie, CDPQ consortium line up financing for Brazilian TAG pipeline buy

ENGI

Engie, CDPQ consortium line up financing for Brazilian TAG pipeline buy. NEW YORK, April 8 (LPC) - French energy company Engie and Canadian pension fund Caisse de Dépôt el Placement du Québec (CDPQ) will tap into both dollar- and Brazilian real-denominated debt with nine lenders to back its purchase of the Transportadora Associada de Gás (TAG) natural gas pipeline in Brazil from state-controlled energy company Petróleo Brasileiro (Petrobras), according to three sources familiar with the transaction. The consortium will acquire a 90% stake in TAG after it made Petrobras an US$8.6bn offer on Friday for the asset, the largest-ever bid for a gas pipeline in Latin America. Brazilian banks Banco do Brasil, Bradesco and Itaú are providing the local currency debt while Japan’s Mizuho, MUFG and Sumitomo Bank will team with French lenders BNP Paribas, Crédit Agricole and Société Généralé to round out the dollar portion of the debt financing.

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Social Chatter

Engie SA (BEL:ENGI) social chatter is higher than usual

ENGI
ENGIE-led consortium wins competitive bidding process in Brazil for the acquisition of TAG, https://t.co/kglk1OMaXx #energy https://t.co/lmgSrdMTdC
News

Engie-led consortium seals $8.6 billion purchase of Petrobras pipeline unit

ENGI

PARIS (Reuters) - A consortium led by French utility Engie has won a bid for Petrobras' TAG pipeline arm with an $8.6 billion offer, in a deal that boosts Engie's presence in the fast-growing Brazilian market and helps Petrobras cut debts. Engie said on Monday its successful offer for a 90 percent stake in TAG was made alongside Canada's state-owned financial and investment firm Caisse de Dépôt et Placement du Québec, with more than $310 billion (£237.5 billion) under management. Engie said buying TAG, which accounts for 47 percent of Brazil's entire gas infrastructure and achieved core earnings of $1.14 billion in 2018, would provide a steady stream of profits. "Our acquisition of TAG is a significant milestone for Engie in Brazil, a key market for the group where we have been present for 23 years," said Engie Chief Executive Isabelle Kocher.

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Saturday, April 06


News

Petrobras agrees to sell pipeline unit to Engie for $8.6 billion

ENGI

SAO PAULO/RIO DE JANEIRO (Reuters) - A consortium led by France's Engie SA submitted the highest offer for a major gas pipeline unit owned by Brazil's Petroleo Brasileiro SA, the state-run oil firm said on Friday, as the company's biggest divestment draws to a close. Engie subsidiaries in different countries account for 75 percent of the winning consortium and the Canadian pension fund the other 25 percent, one of the sources added, asking for anonymity to discuss undisclosed details. The divestment represents a victory for current Petrobras leadership and Chief Executive Roberto Castello Branco, who is pushing to aggressively unload assets in a bid to cut debt and refocus on exploration and production. In September 2016, Petrobras sold a larger gas network pipeline, Nova Transportadora do Sudeste, for $5.2 billion to Brookfield Infrastructure Partners LP, which beat out a bid by Engie.

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Social Chatter

Friday, April 05


News

Petrobras agrees to sell pipeline unit to Engie for $8.6 billion

ENGI

Petrobras agrees to sell pipeline unit to Engie for $8.6 billion. SAO PAULO/RIO DE JANEIRO (Reuters) - A consortium led by France's Engie SA submitted the highest offer for a major gas pipeline unit owned by Brazil's Petroleo Brasileiro SA, the state-run oil firm said on Friday, as the company's biggest divestment draws to a close. Engie subsidiaries in different countries account for 75 percent of the winning consortium and the Canadian pension fund the other 25 percent, one of the sources added, asking for anonymity to discuss undisclosed details. In September 2016, Petrobras sold a larger gas network pipeline, Nova Transportadora do Sudeste, for $5.2 billion to Brookfield Infrastructure Partners LP, which beat out a bid by Engie.

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News

Engie bids $8.6 billion for Petrobras pipeline unit, topping competitors

ENGI

Engie bids $8.6 billion for Petrobras pipeline unit, topping competitors. SAO PAULO/RIO DE JANEIRO, April 5 (Reuters) - A consortium led by France's Engie SA made the biggest-ever offer for a major gas pipeline unit owned by Brazil's Petroleo Brasileiro SA, the state-run oil firm said on Friday, as the company's biggest divestment draws to a close. In a filing, Petrobras, as the company is known, said the Engie consortium, which includes Canada's Caisse de Dépôt e Placement du Québec, presented an $8.6 billion bid for 90 percent of the TAG gas pipeline unit in northern and northeastern Brazil. In September 2016, Petrobras sold a larger gas network pipeline, Nova Transportadora do Sudeste, with nearly 1,560 miles of pipelines, for $5.2 billion to Brookfield Infrastructure Partners LP, which beat out a bid by Engie.

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Thursday, April 04


News

Engie buys regional FM major Cofely Besix, rebrands it

ENGI

In a major move, leading global energy and services group Engie has taken over Cofely Besix Facility Management (CBFM) after acquiring the the remaining 50% of the shares formerly held by Belgian construction major Besix. Established in 2008 as a partnership between Engie and Besix, CBFM is the region’s leading provider of complex FM and energy service solutions, with over 2,000 employees operating in the UAE and Oman (with its partner Daud) on many iconic landmarks such as Dubai Mall, the Al Sufouh Tram and Abu Dhabi Airport. This acquisition is the result of Engie’s strategic ambition to become the world leader in zero-carbon transition, developing energy-efficient assets and putting into practice a unique integrated approach, enabling the company’s accelerated growth across a broad spectrum of services while servicing clients’ evolving needs. Engie Cofely CEO Ian Harfield said: "We are excited to join the global Engie family and look forward to embark on a new journey that will see Engie Cofely combine Engie’s global expertise with CBFM’s robust geographical presence and capabilities."

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