Shell Gas BV, Shell Brazil Holding BV and Integral Investments BV (Shell) have signed an agreement to sell all of its 16.8 percent interest in Companhia de Gas de Sao Paulo (Comgas) to Cosan Ltd.
Comgas is Brazil’s largest gas distributor with Cosan currently a 63.4 percent shareholder.
The value of the transaction is approximately $380 million. The transaction is expected to be completed by year-end. Shell’s share position in Cosan SA will be managed for value realization over time.