CPFL Energia closes acquisition of shares in CPFL Energias Renovaveis
Date
October 01, 2019
Type
M&A Transactions
Subtype
Transaction completed
Countries
Brazil
Subsectors
Ground Transmission
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Brazilian energy company CPFL Energia has completed the acquisition of the shares in CPFL Energias Renovaveis from a local unit of State Grid Corporation of China.
The deal represents a total investment of BRL16.85 (US$4.03) per share from State Grid Brazil Power Participacoes SA.
The transaction corresponds to 46.76% stakes in the company.
State Grid Brazil Power Participacoes currently holds a majority share of 83.71% stakes in CPFL Energias Renovaveis.
