BG Group today completed the previously announced
transaction to sell the Group's entire 60.1% holding in
Comgás for a consideration of Brazilian reais 3.4
billion, or approximately $1.7 billion, to Cosan S.A.
Indústria e Comércio (Cosan). In addition, debt on the BG
Group balance sheet has been reduced by some $1 billion.
The transaction was concluded after BG Group and Cosan
obtained the necessary approvals from the São Paulo State
Sanitation and Energy Regulation Agency and the Economic
Defense Administrative Board.
BG Group announced in May it had signed a definitive
binding agreement with Cosan for the sale of the Group's
interest in Comgás, Brazil's largest gas distribution
BG Group took the strategic decision to exit its
Transmission & Distribution and Power businesses as an
integral part of a portfolio rationalisation programme.
Conclusion of the Comgás transaction follows agreement in
early October to sell BG Group's controlling interest in
India's Gujarat Gas Company Limited for approximately
$470 million and the sale in May of the Group's interests
in two Philippines power plants for $360 million.
Notes to Editors:
BG Group plc (LSE: BG.L) is a world leader in natural
gas, with a strategy focused on connecting competitively
priced resources to specific, high-value markets. Active
in more than 20 countries on five continents, BG Group
has a broad portfolio of exploration and production,
liquefied natural gas (LNG) and transmission and
distribution business interests. It combines a deep
understanding of gas markets with a proven track record
in finding and commercialising reserves.
There are matters set out within this announcement
that are forward-looking statements. Such statements are
only predictions, and actual events or results may differ
materially. For a discussion of important factors which
could cause actual results to differ from these
forward-looking statements, refer to BG Group's
Annual Report and Accounts for the year ended 31 December
2011. BG Group does not undertake any obligation to
update publicly, or revise, forward-looking statements,
whether as a result of new information, future events or
otherwise, except to the extent legally required.