THE EDP (ENBR3) signed a purchase and sale agreement with a company held by Actis Assessoria Investimentos to formalize the sale of 100% of the share capital of three transmission assets held by the energy company.
According to a statement to the market on Tuesday (19), the value of assets total R$ 1.329 billion, considering the base date of March 2021. EDP informs that it will still be adjusted according to the closing date of the transaction.
The assets sold by EDP are as follows:
- EDP Transmission (Batch 24),
- EDP Maranhão I (Lot 7) and
- EDP Maranhão II (Lot 11),
In all, the sum of sold lots reaches 439 km in length, with a Allowed Annual Revenue (RAP) of R$131 million.
“This movement proves the ability of EDP Brazil in the generation of value through the early delivery of assets under construction, with high operational quality and low risk profile”, says the document.
Finally, EDP informed that the transaction is subject to approval by CADE, ANEEL and Banco do Nordeste do Brasil and debenture holders.
EDP Brasil subsidiary wins Celg T auction
On Thursday (14), the Small Hydroelectric Plant, a subsidiary of EDP Brasil, acquired the assets of the state-owned electric power transmission company in Goiás, Celg T, for R$ 1.977 billion.
The company, sold at auction on B3 (B3SA3), raised an 80% premium on top of the initial price of R$1.097 billion. Isa Cteep (TRPL4), Cymi and MEZ Energia participated in the auction.
With the acquisition, EDP Brasil will manage a total of 755.5 km of transmission lines and 11 substations connected to the National Interconnected System (SIN), in the states of Goiás, Mato Grosso do Sul and the Federal District. Altogether, the assets generate an Annual Allowed Revenue (RAP) of R$ 238 million.
For the analyst at Ativa Investimentos Ilan Arbetman, although the purchase represents a high potential for synergies, the high premium paid by Celg T raises doubts.
“We consider the operational data as positive while the acquisition. Despite potentially providing synergies that can be exploited, it has a more dubious character due to the high premium paid by the company”, he says.
EDP’s latest quote on Tuesday (19)
At 10:40 am this Tuesday, the EDP quotation Brazil on the stock exchange presented a fall of 1.09%, with the ENBR3 shares being traded at R$19.09.
In the last 12 months, the papers of EDP accumulate 10.85% appreciation, being traded at R$19.88 at the maximum and at R$16.16 at the minimum.