Italian energy group Enel has presented the best financial offer for the acquisition of around 94.8% of the share capital of Celg Distribuição (CELG), an energy distribution company that operates in the Brazilian state of Goiás, during a public tender organised by the Brazilian government via national development bank BNDES for the privatisation of CELG. Enel offered BRL 2.187bn (US$640m) for the stake. With this acquisition, Enel's customer base in Brazil will grow by half, from 7 million to 10 million.
Established in 1956, CELG (which is currently a subsidiary of state-controlled electricity company Eletrobras) operates in a territory that covers more than 337,000 km2 through a concession that is valid until 2045. The sale of CELG is part of the privatisation of state assets launched by the Brazilian government. CELG’s market includes 237 municipalities with a combined population of about 6.2 million people. CELG’s customer base of 2.9 million is served via a network over 200,800 km long.