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BG Group signs agreement for sale of TGGT


Published Oct 21, 2013
BG Group-8

BG Group has signed a definitive agreement with Azure Midstream Energy, LP (Azure) for the sale of its entire holding in TGGT - a joint venture midstream company operating in east Texas and north Louisiana, USA. BG Group will receive a net cash consideration of $231 million along with a $17 million stake in Azure, equating to an approximate 4% equity holding, for its entire 50% equity holding in TGGT.

BG Group’s sale of its interests in TGGT is aligned with a key strategic commitment to more actively manage its portfolio as the company focuses on its core strengths of exploration and production and LNG.

Completion of the deal is expected by the end of the year, subject to relevant regulatory approval and other customary conditions.

Tags: BG Group




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