Equatorial acquires corporate control of Celg-D for R$ 1.57 billion

Equatorial Participações e Investimentos, a subsidiary of Equatorial Energia, acquired from Enel Brasil this Friday (23) the shareholding control of Celg-D for R$ 1.575 billion through the purchase of 282 million common shares, representing 99,964% of the capital Celg-D voting social

In a material fact sent to the Securities and Exchange Commission (CVM), the company emphasizes that the acquisition price is subject to correction by the CDI variation from the base date of March 31, 2022 to the closing date, and to positive or negative adjustments. losses arising from changes in its net debt and net assets between the base date and the closing date.

The amount paid may also be increased by earn-out due to payments and receipts for contingencies.

The completion of the transaction is subject to approval by the Administrative Council for Economic Defense (Cade) and the approval of the transaction and of a Celg-D Control Transfer Plan by the National Electric Energy Agency (Aneel), which may include flexibility and/or or adjustments in the regulatory parameters of the concession.

Additionally, the Purchase and Sale Agreement provides for the restructuring of existing loans between Celg-D and the seller and other companies of its economic group, in the amount of R$ 5.717 billion, on the base date.

Celg-D undertook to repay the loans within 12 months after the closing of the transaction.

Finally, Equatorial declares that, on this date, it has no intention of promoting, within one year, the cancellation of Celg-D’s registration as a publicly-held company. Banco BTG Pactual acted as exclusive financial advisor to Equatorial in the transaction.

“With the acquisition, the company diversifies its operations in the energy distribution segment to yet another geographic region, demonstrates its unique approach to identifying opportunities, guided by financial discipline in the allocation of capital, and reinforces its consolidating role in the segment. distribution, expanding opportunities to generate value as an integrated player in the energy sector and adding more than 3.3 million customers to its base”, he says.