Engie: expected contributions from acquisition of TAG

(CercleFinance.com) - Engie says that the acquisition of TAG in Brazil will result in an additional contribution of 130 million euros to the group's underlying operating income in 2021, which is expected to increase by over an average of 10% p.
a. between 2021 and 2024.

It also expects an additional contribution to recurrent net income (group share) of 100 million euros in 2021, a contribution that is expected to grow an average of over 15% p.a. between 2021 and 2024, as well as an impact of 1.6 billion euros on net debt.

TAG (Transportadora Associada de Gás) is the largest owner of natural gas transmission networks in Brazil. The company has 4,500 kilometres of pipelines, which represents 47% of the country's total gas infrastructure.


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