Eletrobras announces new release (Image: Fernando Frazão/Agência Brasil)
THE Eletrobras (ELET3), together with its subsidiary Eletronorte, announced on Wednesday (14) the partial conclusion of the sale of its thermal plants to the J&F group, successor to AMBAR ENERGY in the signed agreement.
Partial closure includes the transfer of all the assets and rights of electronorte related to the plants involved.
The transaction generated to Eletrobras an amount of approximately R $ 2.9 billion, resulting from the payment by assets and the survey of deposits under warranty linked to gas supply contracts.
In addition, Eletronorte received about R $ 600 million corresponding to the cash generated by the plants between the contract signature and the partial closure of the operation, the company said.
The agreement also provides for Eletrobras’ right to receive an eunt-out of the base amount of R $ 1.2 billion, whose payment will be subject to compliance with pre-established conditions.
Eletrobras also informs that the closure of the sale of UTE Santa Cruz (500mw), the last remaining asset of the alienated portfolio, awaits the completion of regulatory approvals.
“The conclusion of this important stage of the transaction reinforces Eletrobras’s commitment to the optimization of its portfolio and capital allocation, focusing on the generation of value and simplification of its structure as provided for in its strategic plan,” he said.
Source: Moneytimes
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