SAO PAULO, Dec 16 (Reuters) – Brazilian energy firms Neoenergia (NEOE3.SA) and Eletronorte, a subsidiary of utility Eletrobras (ELET6.SA), agreed on Friday to stake swaps price 787.8 million reais ($148 million), in strikes that can primarily alternate holdings in hydropower vegetation.
Beneath the deal, Neoenergia – managed by Spain’s Iberdrola SA (IBE.MC) – will take a 49% stake within the Dardanelos hydroelectric plant, and 0.04% in Neoenergia Coelba, Neoenergia Cosern and transmission agency Afluente T.
Eletrobras, in flip, will take 51% of the Teles Pires hydroelectric plant, giving it full possession of the corporate, plus Neoenergia’s 51% stake within the UHE Baguari hydropower plant constructing consortium.
This may give Eletrobras 66% of UHE Baguari’s belongings, it stated in a joint assertion with Neoenergia.
Eletrobras stated the deal would deliver its put in capability as much as 872 MW and develop its working money era by 397 million reais per yr.
The deal stays topic to approval from collectors and the Brazilian antitrust regulator CADE.
($1 = 5.3140 reais)
Reporting by Nayara Figueiredo; Enhancing by Muralikumar Anantharaman
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