BG Group completes sale of Comgás

BG Group, the FTSE 100 gas giant, has completed the sale of its entire 60.1 per cent holding in Comgs to Cosan Indstria, reducing the company's debt by around one billion dollars.

The consideration was sold for around $1.7bn and was completed after the companies obtained the necessary approvals from the So Paulo State Sanitation and Energy Regulation Agency and the Economic Defense Administrative Board.

The sale was announced back in March and forms part of BG's portfolio rationalisation programme.

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The completion of the transaction follows agreement in early October to sell BG's controlling interest in India's Gujarat Gas Company for approximately $470m and the sale in May of the group's interests in two Philippines power plants for $360m.

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