CPPIB, Votorantim take over Brazilian power firm for $458 mln: Reuters
A consortium of Canada Pension Plan Investment Board (CPPIB) and Brazil’s Votorantim Energia won a privatization auction this week to buy a controlling stake in power company Companhia Energética de Sao Paulo SA (Cesp) from the government of Sao Paulo state, Reuters reported. The consortium will pay 14.6 reais per Cesp share, a 2.09 percent premium over the minimum sale price at the auction. Considering the government's stake of 40.6 percent, the consortium will pay a total of 1.7 billion reais (US$458.25 million). CPPIB and Votorantim Energia already have a joint venture in Brazil that plans invest in renewable power sources.
19 October 2018•1 min read
