Imprensa

Press

« Voltar « Back

Enel completes 2 billion reais Celg-D privatisation

Por: Latin LawyerImprimirVisualizar em PDF

Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados has helped the Brazilian branch of Italian utilities provider Enel complete its acquisition of Goiás state power distributor Celg Distribuição (Celg-D) for 2 billion reais (US$700 million).

Eletrobras, the state-owned power company that formerly controlled Celg-D, hired the International Finance Corporation in June to structure the privatisation process. The World Bank agency worked jointly with Pinheiro Neto Advogados and White & Case LLP in São Paulo. The IFC also advised Brazilian development bank BNDES, which helped oversee the privatisation.

Enel Brasil bought 94.8% of the share capital of Celg-D, with the remaining shares offered to Celg-D's current and retired employees. This arrangement will allow Enel to purchase any remaining shares.

Enel won the public tender for the power distributor in November, adding to its current energy operations in Brazil. An estimated 25% of Enel's total earnings come from Latin America, where it has a presence in five countries.

The privatisation process of Celg-D began in 2015 under the Rousseff administration. Brazilian state companies' rapid expansion in recent years has put a strain on public funds and Brazil's current public debt stands at 69% of its GDP.

President Michel Temer announced sweeping privatisation plans in September. Six more Eletrobras assets are set to be auctioned off by the close of 2017.

Temer hopes to attract investors to Brazil's oil and gas, infrastructure and mining sectors, with plans to raise US$24 billion from concessions.

Brazil's legislative assembly on Monday approved the controversial privatisation of Rio de Janeiro's state water and sewage company CEDAE. There have been numerous public protests since June, when the state of Rio de Janeiro agreed to sell the company in return for an emergency bailout to finance infrastructure for the Olympics.

Celg-D's sale closed on 14 February.

Counsel to Enel Brasil

Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados

Partners Claudio Oksenberg and Fabiano Ricardo Luz de Brito and associates Igor de Moraes, Araruna Zibordi, Mariana Pio da Rocha Pereira, Raphael Portella Chamma and Eugênia Maria Menezes Pedroso in São Paulo

Counsel to International Finance Corporation, Eletrobras and BNDES

In-house counsel - Tarcila Reis

Pinheiro Neto Advogados

Partners João Marcelo Gonçalves Pacheco, Caio Ferreira Silva and Ricardo Pagliari Levy, counsel Adriano Drummond Trindade and associates Roberto Lambauer, Renato Grecco, Heloísa Figueiredo Ferraz, José Roberto Oliva Júnior and Carolina Dantas de Melo in São Paulo

White & Case LLP

Partners John Guzman and John Anderson in São Paulo

Compartilhar:
Faça parte do nosso mailing Join our mailing Receba em primeira mão publicações
e comunicados do escritório
Get firsthand publications
and communications office

São PauloRua Hungria, 1100. 
01455-906
Tel: +55 (11) 3247-8400
Fax: +55 (11) 3247-8600ver mapasee map

Rio de JaneiroRua Humaitá, 275 - 16º andar. 
22261-005
Tel: +55 (21) 2506-1600
Fax: +55 (21) 2506-1660ver mapasee map

BrasíliaSAFS, Qd. 2, Bloco B
Ed. Via Office 3º andar.
70070-600
Tel: +55 (61) 3312-9400
Fax: +55 (61) 3312-9444ver mapasee map

Palo Alto228 Hamilton Avenue, 3rd floor
CA 94301 USA
Tel: +1 650-798-5068ver mapasee map

Termos de Uso
Política de Privacidade