Italian multinational Enel’s Brazilian branch has closed a deal to purchase 94.8% of the CELG Distribução distribution company for $640 million USD. The remaining 5% of the company will be offered to CELG employees and pensioners, while Enel will retain the option to buy any stocks not bought by employees.
The deal was approved last Thursday by Brazil’s competition authority CADE, as well as the National Electric Energy regulator, ANEEL. The move will boost Enel’s client base to 10 million from 7 million, bringing its customer base to a worldwide total of over 65 million people.
“With this transaction, we will expand our presence in the Brazilian energy distribution sector, making Enel Brazil the country’s second largest distributor. Also, after Italy and the Iberian peninsula, Brazil is now the third largest market for our group in terms of clients” said Enel Group’s CEO, Francesco Starace.
Full Content: Energy Infrastructure
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI