A team of Jones Day lawyers led by Marcello Hallake, S. Wade Angus and Robert da Silva Ashley advised French natural gas multinational ENGIE on the purchase of a 90% stake in Transportadora Associada de Gás SA, or TAG, from Brazilian state oil company Petróleo Brasileiro SA (Petrobras).

The $8.7 billion acquisition of TAG, Brazil’s largest natural gas transmission network, was made by a consortium composed of ENGIE S.A, ENGIE Brasil Energia and Caisse de dépôt et placement du Québec (CDPQ). Petrobras will maintain a 10% equity stake in TAG.