Gerdau reported on Tuesday that its subsidiaries have signed contracts with Atiaia Energia to purchase the companies Rio do Sangue and Paranatinga Energia, owners respectively of the small hydroelectric plants (PCH) Garganta da Jararaca and Paranatinga II, located in Mato Grosso.
The acquisition price was approximately 440 million reais, according to what Gerdau declared to the market, a value that will be “subject to adjustments based on liquidity and debt levels to be determined at the closing date”.
Payment will be made in cash, from its own resources, on the closing date of the transaction, which still depends on the approval of the Brazilian competition authority, the steel company added.
“The PCHs will provide renewable energy to Gerdau’s steel production units in Brazil, on a self-generation basis, equivalent to approximately 8% of the energy consumption of its operations in the country,” Gerdau said.
Source: Terra
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