Brazil: Equatorial Energia consolidates ownership of Intesa

Brazilian energy company Equatorial Energía SA has moved to acquire 49% of capital shares in its rival INTESA, a concessionary of Brazilian state company Eletrobras. The transaction, presented on November 14, would amount to just over US$72.4 million.

Equatorial Energía already held the remaining 51% of Intesa’s capital, acquired in 2017. The new operation, which must be approved by the Administrative Council for Economic Defense (CADE), would grant Equatorial full control over its counterpart.

Equatorial Energía generates and distributes electric power in the state of Maranhao, serving more than 6.9 million consumers.