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Enel completes the acquisition of CELG power distributor in Brazil

Italian energy group Enel has completed 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. With this acquisition, Enel's customer base in Brazil will grow by half, from 7 million to 10 million.



The Italian group was selected in December 2016 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. The remaining stake of around 5.1% of CELG will be offered to the company’s current and retired employees, through a process that will allow Enel Brasil to purchase the shares not bought by those employees.



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.