Equatorial acquires Celg-D from Enel

Equatorial acquires Celg-D from Enel

Corporate & Sovereign Strategy Equity Debt M&A Brazil Capital Markets Electricity

Brazilian power company Equatorial Energy has agreed to pay BRL1.58 billion ($300 million) to acquire the electricity distribution company Celg-D from Italian rival Enel, it said in a securities filing on Friday. Equatorial also said it took on BRL5.72 billion in debt but plans to pay off outstanding loans within 12 months of closing the transaction. It added that it does not intend to delist Celg-D from the stock exchange in the next year. The acquisition of Celg-D in the center-west state of G

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