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BG Group BG. BG Group - Sale of Comgas stake completed

  BG Group (BG.) - BG Group - Sale of Comgas stake completed

RNS Number : 4056Q
BG GROUP plc
06 November 2012






News Release

6 November 2012



                        Sale of Comgás stake completed

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 company.



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.



                                    -ends-

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.     For      further     information      visit: 
www.bg-group.com 



BG Group was advised on the transaction by Bank of America Merrill Lynch.



Picture Desks:

For images of BG Group visit: www.vismedia.co.uk(requires additional
registration)



Contact:

Mark Todd: +44 (0) 118 929 3110
mark.todd@bg-group.com

Kim Blomley: +44 (0) 118 938 6568 
kim.blomley@bg-group.com

Out of Hours Media Mobile: +44 (0) 7917 185 707

Investor Relations:  +44 (0) 118 929 3025
invrel@bg-group.com



                                      

 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.

                                      

                                      

                                      

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


MSCEAKFKELDAFEF -0- Nov/06/2012 07:00 GMT
 
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