Equatorial Energia takes CEEE-D as only bidder

Equatorial Energia takes CEEE-D as only bidder

Economy & Policy Debt M&A Brazil Energy Electricity Regulation

Brazilian power company Equatorial Energia was the only bidder at an auction for CEEE-D, the distribution division of Rio Grande do Sul state utility CEEE, on Wednesday, offering to take over the asset for BRL100,000 ($17,760), according to the state government. Equatorial also agreed to take on roughly BRL7 billion in debt as part of the deal, including BRL4.4 billion owed in taxes to Rio Grande do Sul, the state government said in a press release on Wednesday. Equatorial acquired 65.9% of CEEE

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