Equatorial Energia announced on Wednesday an agreement to sell Integração Transmissora de Energia (Intesa) to Infrastructure and Energy Brazil, in a deal valued at up to 714 million reais, according to a statement to the market.
The valuation considers an asset value of up to 396 million reais, of which approximately 319 million reais will be paid on the closing date, leaving an “earn-out” of the remaining sum.
Furthermore, the value of the operation considers a net debt of approximately 318 million reais, at the base date of June 30, 2023.
“It is important to underline that the operation does not represent the exit of the Equatorial group from the transmission sector, but allows it to move forward by accelerating its deleveraging path…” reads the statement signed by the financial director, Leonardo da Silva Lucas Tavares de Lima.
According to him, the operation allows to adapt Equatorial’s capital structure “to the possible opportunities in the value generation avenues in which it operates”.
Source: Terra
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