May 12 (Renewables Now) - Brazilian power distributor Centrais Eletricas Brasileiras SA (BVMF:ELET3), or Eletrobras, has approved the binding offer made by investment fund FIP Pirineus to acquire its 49% interest in the 26-MW Mangue Seco 2 wind farm.
The value of the proposal received is BRL 33 million (USD 5.6m/EUR 5.2m), which can be increased by up to 15% depending on future energy generation, the company said on Monday. In addition, if other conditions stated in the shareholders’ agreement are met, the amount will be increased by a further BRL 2 million.
Brazilian state-controlled oil and gas company Petroleo Brasileiro SA (BVMF:PETR4), also know as Petrobras, holds the remaining 51% share in Mangue Seco 2. Recently, the oil giant kicked off the binding phase for the sale of its shares as well.
Closing is subject to the approval of the national power sector regulator Aneel, Brazil's Administrative Council for Economic Defense (CADE) and creditors.
(BRL 1 = USD 0.172/EUR 0.159)