September 07, 2023
Tauil & Chequer Advogados advises the Eletrobras group in the sale of the Candiota thermoelectric complex and in negotiations with Âmbar Energia group for the sale of other transmission and generation assets
Tauil & Chequer Advogados in association with Mayer Brown has assisted Eletrobras group in the sale of the Candiota thermoelectric complex to Âmbar Energia group for R$ 72 million. The closing of the transaction is subject to customary market conditions precedent.
The Candiota power plant, located in the municipality of the same name in the state of Rio Grande do Sul, is owned by Eletrobras CGT Eletrosul and is the only coal-fired thermoelectric plant in the Eletrobras group. The closing of the transaction is subject to customary adjustments and conditions precedent. Upon completion, this transaction will be another important milestone for Eletrobras in reducing CO2 emissions and working towards its net-zero target by 2030, as this plant represents approximately one-third of Eletrobras' total CO2 emissions.
The firm also advised Eletrobras group in two negotiations with Âmbar Energia group for the acquisition of assets jointly owned by Furnas and an investment fund of Âmbar Energia group.
The first transaction was the negotiation of the acquisition of 51% of the shares of Vale do São Bartolomeu (VSB) and Triângulo Mineiro Transmissora (TMT), owned by Âmbar Energia group, for the amount of R$ 574 million. This deal was carried out as part of the replacement of terms and advanced exercise of purchase and sale options held by Âmbar Energia against Furnas. VSB and TMT own electricity transmission assets and have annual revenue for the 2023-2024 cycle of R$ 49 million and R$ 53 million, with concessions until Oct/2043 and Aug/2043, respectively. The closing of the transaction is also subject to customary conditions precedent.
In addition, Tauil & Chequer Advogados in association with Mayer Brown advised Eletrobras in the negotiation of a stock option granted by Âmbar Energia group regarding the shares representing 51% of the capital stock of six wind power SPVs in the Baleia Complex in favor of Brasil Ventos Energia S.A., a wholly owned subsidiary of Furnas, for the symbolic price of R$ 1.00.
The firm's team was led by partner Bruno Salzano and associate Maurício Veiga, with significant contributions from partner Débora Yanasse and associate Bruno Ribeiro.
The Candiota power plant, located in the municipality of the same name in the state of Rio Grande do Sul, is owned by Eletrobras CGT Eletrosul and is the only coal-fired thermoelectric plant in the Eletrobras group. The closing of the transaction is subject to customary adjustments and conditions precedent. Upon completion, this transaction will be another important milestone for Eletrobras in reducing CO2 emissions and working towards its net-zero target by 2030, as this plant represents approximately one-third of Eletrobras' total CO2 emissions.
The firm also advised Eletrobras group in two negotiations with Âmbar Energia group for the acquisition of assets jointly owned by Furnas and an investment fund of Âmbar Energia group.
The first transaction was the negotiation of the acquisition of 51% of the shares of Vale do São Bartolomeu (VSB) and Triângulo Mineiro Transmissora (TMT), owned by Âmbar Energia group, for the amount of R$ 574 million. This deal was carried out as part of the replacement of terms and advanced exercise of purchase and sale options held by Âmbar Energia against Furnas. VSB and TMT own electricity transmission assets and have annual revenue for the 2023-2024 cycle of R$ 49 million and R$ 53 million, with concessions until Oct/2043 and Aug/2043, respectively. The closing of the transaction is also subject to customary conditions precedent.
In addition, Tauil & Chequer Advogados in association with Mayer Brown advised Eletrobras in the negotiation of a stock option granted by Âmbar Energia group regarding the shares representing 51% of the capital stock of six wind power SPVs in the Baleia Complex in favor of Brasil Ventos Energia S.A., a wholly owned subsidiary of Furnas, for the symbolic price of R$ 1.00.
The firm's team was led by partner Bruno Salzano and associate Maurício Veiga, with significant contributions from partner Débora Yanasse and associate Bruno Ribeiro.
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