ContourGlobal offloads 9 Brazilian hydro power plants
Date
July 08, 2022
Type
M&A Transactions
Subtype
Transaction agreement announced
Countries
Brazil
Subsectors
Hydropower
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Kani Lux Holdings, a subsidiary of ContourGlobal, has reached a definitive agreement with Pátria Investments for the sale of Kani Lux's nine hydroelectric projects in Brazil for BRL1.73 billion (US$319 million).
Along with additional adjustments typical of such deals, the sale involves the assumption of the net debt secured by the assets. Nine hydroelectric producing businesses with a combined gross capacity of 168 MW make up Brazil's hydro assets, all operated under long-term contracts.
Financial advisors to ContourGlobal included BNP Paribas and Cantor Fitzgerald.
