The Rohatyn Group ("TRG"), an independent investment firm focused on emerging markets, has announced that TRG Growth Fund II has sold its minority stake in Transportadora de Gas Internacional S.A. ESP ("TGI") to majority shareholder Empresa de Energia de Bogota S. AS. ESP ("EEB"), for $880 million. EEB, a leading energy holding company in Colombia with interests across the electricity and natural gas sectors, is a publicly listed company controlled by the District of Bogota.
TGI is the largest natural gas transportation company in Colombia with a network of 3,957 kilometers of pipelines and a total delivery capacity of 730 million cubic feet per day. The company transports natural gas through eight main pipelines and several secondary branches located to cover all major urban and industrial centers throughout Colombia. TRG Growth Fund II acquired a minority stake in March 2011 to finance an expansion of TGI's pipeline system.
Juan Pablo Pallordet, Managing Director at TRG, said, "Through our partnership with EEB, we have made significant progress in increasing TGI's capacity. We are proud of the successful exit and remain confident in the future prospects for the company under EEB's leadership."
TRG Partner Miguel Gutierrez added, "TGI represents an excellent example of the compelling private equity investments available across much of Latin America. TRG looks forward to pursuing new opportunities to capitalize on the region's dynamic growth prospects in coming years."
TRG, along with its subsidiaries and affiliates, has over $6 billion in private markets assets under management, in addition to approximately $1 billion in liquid market strategies. TRG recently acquired Citi Venture Capital International ("CVCI"), the emerging market private equity investment unit formerly owned by Citigroup Inc., which expanded and enhanced the firm's emerging markets investment capabilities and global reach.