Brazil okays sale of Eletrobras' Piauí subsidiary

Tuesday, August 28, 2018

Brazil's antitrust agency Cade approved the sale of Eletrobras' distribution subsidiary in Piauí state, Cepisa, to Equatorial Energia.

The firm won the auction for the distribution subsidiary in July. Equatorial already operates distribution firms in states close to Piauí, such as Maranhão and Pará, but the antitrust watchdog's analysis concluded the merger will not damage the country's competitive environment.

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Equatorial agreed to pay 95mn reais (US$26mn) for the Piauí distributor, as well as making a commitment to invest 720mn reais.

Eletrobras plans to auction its subidiaries in Roraima, Alagoas, Rondônia and Acre states on August 30.