BG MOU With Cosan For Sale Of Its 60.1% Holding In Comgas For $1.8 Billion
May 03 2012 - 02:47AM
Dow Jones News
BG Group PLC (BG.LN), a natural gas and oil exploration company,
said Thursday that it has signed a memorandum of understanding or
MoU with Cosan S.A. Industria e Comercio for the sale of its 60.1%
holding in Comgas, Brazil's largest gas distribution company, for
$1.8 billion.
MAIN FACTS:
-Subject to partner consent, BG Group and Cosan expect to
execute a definitive sale agreement in the near term.
-The transaction, which will be subject to regulatory approval,
is likely to complete by the end of 2012.
-Shareholders in Comgas are BG Group--60.1% and Royal Dutch
Shell PLC (RDSA.LN)--18.1% with the remainder held via the public
through a listing on the Sao Paulo stock exchange.
-BG Group shares closed Wednesday at GBP14.51, valuing the
company at GBP49.29 billion.
-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275;
razak.baba@dowjones.com
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