January 4, 2019 |
Equatorial Energia has acquired Companhia Energética de Alagoas (CEAL) from Eletrobras after emerging as the sole bidder in an auction held late last month. Equatorial Energia paid BRL546mn ($144m) for CEAL and will assume BRL1.8bn worth of liabilities.
CEAL is the second power distribution company Maranhão-based Equatorial Energia has purchased from Eletrobras. In a July auction, Equatorial Energia was also the only bidder to acquire control of Piauí-based electricity distribution company Cepi
Brazilian power company purchases CEAL for $618, plans to invest $220m in the company over the next five years