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With the arrival of BR Distribuidora, Targus is expected to grow by up to four times in size and become the largest energy trader in Brazil
BR Distribuidora started its first acquisition as a private company. The company announced yesterday (27) its entry into the electricity trading market. It debuts in a sector where its main competitors are already present, such as Raízen. Looking for a job? Offshore and onshore vacancies for RJ and ES were announced by oil and gas company KEMPETRO Engenharia
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BR Distribuidora had to shell out 62,1 million reais (US$11,5 million) to buy a 70% stake in Targus Energia. The transaction also provides profit mechanisms and call and put options for the remaining 30%.
"As a result of the acquisition, it will operate in the purchase and sale of electricity to its customers, complementing its current product portfolio, in addition to being able to attract new customers in the market, offering management services in the free market and distributed generation products", said the company. BR.
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The contract provides for the payment of the amount over the next four years. It also has a clause stipulating new disbursements, depending on the achievement of goals, and an option to acquire the remaining 30%.
Objectives
Despite estimating that the use of fossil fuels in Brazil will continue for decades, the president of BR Distribuidora, Rafa Grisolia, said he wants to be prepared for future changes in the energy sector, such as the arrival of electric cars and the growth of the market. of natural gas in the country.
“Society is changing and, if tomorrow you buy an electric car, I don't want to lose you as a customer; if an industry starts to use gas, I want to be able to take care of it in the figure of the gas trader that should come up with the new rules”, she explained. A partnership with Golar Power, a company specialized in gas, is already in place.
With the entry of BR, Targus gains 14 potential customers, who are now part of BR's business, in addition to the more than 7.700 service stations spread across the country.
Targus should grow up to four times in size and become the largest energy trader in Brazil, celebrates one of Targus's partners, Heloy Rudge.
Founded in 2017, Targus Energia has around 200 consumer units in its portfolio, having negotiated 3.900 gigawatt-hours (GWh) in 2019, with revenue close to 900 million reais (US$ 168 million).
