Renewable energy firm CPFL Renovaveis announced plans to acquire its local rival Desa, a deal that will consolidate the market and result in CPFL Energia, CPFL Renovaveis’s parent company, as a leader in the sector.
Reports say CPFL will acquire its competitor by creating a holding company and merging both units’ operations. The acquisition also reportedly includes the assumption of more than $80 million of Desa debt.
In return, Desa will hold a 12.63 percent share in CPFL Energias Renovaveis.
The deal remains subject to regulatory clearance by energy watchdog Aneel and antitrust authority CADE. Reports did not specify exact financial details of the deal.
Full Content: Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
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
Apple Faces Contempt Hearings Over App Store Reforms
May 19, 2024 by
CPI
T-Mobile Faces Class-Action Lawsuit Over Sprint Merger After Appeal Denied
May 16, 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