Deals
Total Said to Hire Banks to Explore Sale of TIGF Gas Network
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Total SA, Europe’s third-largest oil producer, is exploring a sale of its TIGF natural-gas network in France in a transaction that may fetch about 2.5 billion euros ($3.1 billion), according to two people familiar with the process.
The French company is working with Goldman Sachs Group Inc. and Lazard Ltd. to seek buyers for the transmission network, said the people, who asked not to be identified because talks are private. Potential bidders include companies such as Enagas SA, the operator of Spain’s natural-gas grid, infrastructure investors including Global Infrastructure Partners Ltd., and also pension funds, one of the people said. No final decision on selling the asset has been made.