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Brazilian Eletrobras sells stake in CEEE–T to CPFL Energia [free access]

April 6, 2022

Brazilian state-run power company Centrais Eletricas Brasileiras SA’s (Eletrobras) has announced the sale of its stake of 32.66 per cent in the energy transmission firm Companhia Estadual de Transmissao de Energia Eletrica (CEEE–T) to CPFL Energia S.A., for BRL1.10 billion.

 

Eletrobras will sell its stake, which includes 3 million common shares and 87,600 preferential shares priced at BRL349.29 per share.

 

This sale contract is a part of the company's programme to sell minority shares in companies as part of its 2022-26 business plan.

 

(BRL1=USD0.21)