Bahia Energy Generation Receives CADE Approval For Acquisition Of State-Owned Company CEB

Written by Flavia Marinho

Published on 18/01/2021 at 09:33

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The Approval Given by Cade Is One of the Last Steps to Finalize the Privatization of CEB Acquired in Auction by Bahia Geração de Energia, Controlled by Neoenergia

Last Friday (01/15), Neoenergia, the controller of Bahia Geração, announced that the Superintendency of the Administrative Council for Economic Defense (Cade) issued a favorable opinion to sell CEB Distribution to its subsidiary. Looking for a job? 60 job openings to work at the multinational General Electric Renewable factory today, January 18

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Neoenergia surprised the market in December of last year by allowing its subsidiary to bid for CEB Distribution during the privatization auction.

At the time, CEB-D was acquired for a bid of R$ 2.515 billion, after a strong bidding contest with CPFL Energia, which made a bid of R$ 2.508 billion.

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Approval of the Sale of CEB to Bahia Geração de Energia

The approval given by Cade is one of the last steps to finalize the privatization of CEB. However, a response from the National Electric Energy Agency (Aneel) is still required for the contract signing.

Cade and Aneel were contacted on December 24, 2020, 20 days ahead of the official privatization timeline. The estimate is that the billion-dollar operation could be completed next month.

Judicial Discussion

Lawmakers went to court to question the sale process of the state-owned company, which did not go through the Legislative Chamber of the Federal District (CLDF).

The latest decision, from the president of the Superior Court of Justice (STJ), Minister Humberto Martins, guarantees that the Government of the Federal District can finalize the privatization.

Bahia Energy Generation Receives CADE Approval For Acquisition Of State-Owned Company CEB

The Approval Given by Cade Is One of the Last Steps to Finalize the Privatization of CEB Acquired in Auction by Bahia Geração de Energia, Controlled by Neoenergia

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Approval of the Sale of CEB to Bahia Geração de Energia

Judicial Discussion

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Bahia Energy Generation Receives CADE Approval For Acquisition Of State-Owned Company CEB

The Approval Given by Cade Is One of the Last Steps to Finalize the Privatization of CEB Acquired in Auction by Bahia Geração de Energia, Controlled by Neoenergia

Also Read

Approval of the Sale of CEB to Bahia Geração de Energia

Judicial Discussion

Is a smart plug worth it in a regular home? What does it offer: turns on and off via smartphone, creates routines by schedule, prevents forgotten devices, sometimes monitors consumption, and improves habits without renovation or miracles.

Geographers redefine the Brazilian relief and confirm the presence of mountains in 14 states with a new system that changes historical criteria and alters the way the territory is classified.

Archaeologists have discovered a colossal submerged wall in the Atlantic, dating back 7,000 years and weighing 3,300 tons, regarded as the largest prehistoric submerged structure ever found in France.

There is a city in China right next to Hong Kong where people speak Portuguese, the streets have names in Portuguese, and the architecture looks like it came straight out of a historic city in Brazil.

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Fine of up to R$ 10,000 for wood stoves? Yes, but it’s not a crime: excessive smoke, burning trash, and urban use can lead to fines, and the rules change depending on the local inspector.

The chamber approves a project that transforms plots of up to 2,000 square meters into official rural properties, allowing thousands of small producers who were invisible to the government to now access credit, tax exemptions, and technical assistance.

Most drivers make a big mistake on the road without knowing: there is an exact speed that makes the engine work with minimal effort and saves much more fuel, and it is neither 80 km/h nor 100 km/h as many imagine.

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