Eletrobras Nears Celg Stake Buy

Eletrobras Nears Celg Stake Buy

Brazil M&A

Brazilian utility Eletrobras is putting the final touches on the acquisition of power company Celg Distribuicao, an electricity distribution company controlled by the state of Goias. The negotiations stem from an agreement that contemplates a management buyout under which Eletrobras would acquire 51% of Celg’s common shares with their voting rights. An Eletrobras official says the negotiation is ongoing but declined to give additional details including the amount, valuation and if any advisors w

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