Enel completes US$640mn Brazil Celg-D acquisition

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Tuesday, February 14, 2017

Enel Américas completed a previously announced deal to acquire a 94.8% stake in Brazilian electric utility Celg-D for 2.187bn reais (approximately US$640mn).

The transaction increases Italian parent company Enel's Brazil customer base to approximately 10mn from 7mn, and brings its global customer base to 65mn, the company said in a regulatory filing.

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Enel has budgeted capital expenditure of 20.9bn euros (about US$22bn) for 2017-19, with a focus on digitization and improving the quality of service for end-users.