BG Group to sell Comgás holding to Cosan for $1.8bn

BG Group today announced it has signed a memorandum of understanding with Cosan for the sale of its 60.1 per cent holding in Comgás, Brazil’s largest gas distribution company, for approximately $1.8bn (£1.1bn).

Subject to partner consent, BG Group and Cosan expect to execute a definitive sale agreement in the near term. The transaction, which will be subject to regulatory approval, is likely to complete by the end of 2012.