EDP announced this Tuesday that its subsidiary EDP Brasil will sell the entire transmission line in the Brazilian states of Santa Catarina and Rio Grande do Sul for 510 million reais (around 81 million euros).
In a statement sent to the Securities Market Commission (CMVM) before the market opened, EDP announced that EDP Brasil “signed a purchase and sale contract with Eden Fundo de Investimento em Participações, a fund managed by Actis, for the sale of the entire EDP Transmissão Litoral Sul transmission line (Lot Q)”.
In the document, the energy company adds that the total consideration corresponds to 510 million reais, the equivalent of 81 million euros, and the deal is also subject to verification of regulatory and customary conditions for this type of operations.
The line in question has a length of 135 kilometers and an allowed annual revenue of 66 million reais (10.5 million euros).
The company stated that this transaction is part of the asset rotation strategy for transmission activity in Brazil, defined in EDP’s Business Plan and that the total consideration “represents a multiple of 1.6 times the equity invested net of dividends received”.
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