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
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI