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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.
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.