Mitsui Enters Brazil Hydro Project

Mitsui Enters Brazil Hydro Project

Brazil Japan Europe M&A

Japan’s Mitsui has agreed to enter the Jirau hydroelectric project in Brazil’s Amazon region, buying a 20% stake from GDF Suez in the ESBR Participacoes vehicle, the parties say, for about BRL1.14bn ($567m). The amount is based on a total BRL5.7bn value that GDF assigns to the entire 3,750 megawatt project expected to come online in 2015. GDF Suez bought a 9.9% stake from Camargo Correa last year, upping its equity in the project to 60% from 50.1%. After the Mitsui deal’s close, which is expecte

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