EDP Brasil acquires 14.5% of Celesc and will launch bid for up to 33.6%
EDP Brasil acquires 14.5% of Celesc and will launch bid for up to 33.6% of Celesc
Pursuant to the terms and for the purposes of the article 17 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council and of article 248-A of the Portuguese Securities code, EDP - Energias de Portugal, S.A. (“EDP”) is providing the following information to the market:
EDP – Energias do Brasil, S.A. (“EDPB”), 51% held by EDP, announced today that, following the market notification of December 19th, 2017, it concluded the acquisition of 33.1% of ordinary shares and 1.9% of preferred shares of Centrais Elétricas de Santa Catarina S.A. – CELESC (“CELESC”) from Caixa de Previdência dos Funcionários do Banco do Brasil – Previ. These shares correspond to 14.46% of the total shares of CELESC. The transaction price was R$244 million.
Following the abovementioned deal, EDPB should now briefly obtain the authorization for the launch of a voluntary take-over bid for up to 32% of the preferred shares of CELESC for a price of R$27 per share, corresponding the offer to a potential total amount of R$199 million for 19.1% of the total shares of CELESC.
Should the take-over bid reach its total potential, EDPB will own 33.6% of CELESC, thus reinforcing its focus on regulated networks, not only in the distribution segment, but also in the transmission segment, in which it is currently developing several lines, one of which in a partnership with CELESC.
EDP – Energias de Portugal, S.A.
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