Equatorial Energia acquires electricity distributor from Electrobras

Equatorial Energia acquires electricity distributor from Electrobras

M&A Brazil

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 Cepis

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