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

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