Engie sells coal-fired plant

Engie sells coal-fired plant

Equity Funds M&A Brazil Capital Markets Electricity

Engie Brasil Energia, the Brazilian business of French energy group, said it has agreed to sell a coal-fired thermoelectric power plant to local fund manager FRAM Capital for as much BRL325 million ($63.1 million). FRAM Capital will pay BRL210 million upon closing the deal for the Jorge Lacerda thermoelectric complex and another BRL115 million subject to certain conditions, Engie said in a statement on Monday. The deal is expected to close in 60 days, it added. The sale is part of Engie's effort

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