Brazil's Cemig completes Retiro Baixo acquisition

Monday, September 8, 2014

Brazilian energy group Cemig completed the purchase of a 49.9% stake in power generator Retiro Baixo Energética.

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The 156mn-real (US$69mn) deal with local firms Orteng and Arcadis includes the acquisition of the 83.7MW Retiro Baixo hydroelectric plant in Minas Gerais state, Cemig said in a statement.

Cemig added that conditions outlined by sector regulator Aneel and antitrust watchdog Cade had been met.

Based in the southeastern city of Belo Horizonte, Cemig owns generation, transmission and distribution assets in 11 Brazilian states.