October 31 (Renewables Now) - Brazilian mining company Ferbasa last week said that its binding offer for the purchase of wind farms in the state of Bahia has been accepted by Santander Investimentos.
The mooted deal will represent the indirect acquisition of seven wind special purpose companies, which are operating and have a combined negotiated capacity of 81 MW.
The binding offer concerns the purchase of Santander Investimentos' 87.13% stake in BW Guirapa I (BW I) and the remaining shares held by minority shareholders. Ferbasa has been granted exclusivity to negotiate a share purchase agreement with Santander Investimentos for the acquisition of BW I. The enterprise value of the target business will be up to BRL 811.7 million (USD 247.1m/EUR 212.4m) and the purchase price for 100% of its shares will be up to BRL 450 million.
Ferbasa said the move is in line with its strategy to increase its competitiveness in the mining, metallurgy and forest resources sectors by investing in the electricity segment.
(BRL 1 = USD 0.304/EUR 0.262)