Equatorial Bids for Celpa

Equatorial Bids for Celpa

Brazil M&A

Brazil’s Equatorial Energia has placed a formal bid for control of power distributor Centrais Eletricas do Para (Celpa), it says. Under the proposal, Equatorial has exclusive rights to negotiate a deal with Celpa's majority shareholder, Grupo Rede. Celpa filed for bankruptcy protection in February, citing deterioration in its finances. “The parties still are to present the terms of negotiation to Aneel and to the companies that have relationships with Grupo Rede, such as BNDES and Eletrobras,” R

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