CPFL Adds to Generation Portfolio

CPFL Adds to Generation Portfolio

Brazil M&A

Brazil’s CPFL Energia Renovaveis has acquired power generation assets from SPE Lacenas Participacoes, a unit of Usina Acucareira Ester, for BRL111.5m ($61.2m). Under the deal for the electricity and steam assets, CPFL will pay BRL50.9m and assume roughly BRL60.6m in outstanding debt, the company says. A spokeswoman for CPFL declined to offer additional details of the deal. Usina Ester officials could not immediately be reached for comment. Brazilian regulatory authorities still must approve the

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