Enel Brazil, a subsidiary of Enel means Enel Americas, completed the sale of the entire stake held in Celg Distribuicao, a Brazilian electricity distribution company.
The share equal to 99,9% of the share capital was sold to Equatorial Participacoes and Investimentos, company controlled by Equatorial Energy for a total value of approximately 8,5 billion Brazilian reals (equal to approximately 1,6 billion US dollars), subject to post-closing price adjustment.
The completion of the agreement, it reads in note from Enel, “follows the approval of the transaction by the Board of Directors of Enel Brasil and Enel Américas, as well as the fulfillment of certain additional conditions precedent usual for this type of transaction, including the authorization of theBrazilian electricity authority (Agência Nacional de Energia Elétrica, 'ANEEL') and of theBrazilian competition authority (Conselho Administrative de Defesa Econômica, 'CADE')”.
