CPFL Energia fixes share price for renewable unit delisting tender

Brazilian energy company CPFL Energia (BVMF:CPFE3) has set at BRL 18.24 (USD 3.67/EUR 3.25) the share price for the June 10 delisting tender offer for its unit renewables unit CFPL Renovaveis.

The payout will be paid in full on the settlement date, the company added in a filing on Friday night.

Currently, CPFL Energia holds 99.94% of the outstanding shares in CPFL Renovaveis. The latter has a renewable energy portfolio of a little over 2.1 GW in operation in 94 plants -- wind (1,308.6 MW), small hydro (453.1 MW), biomass (370 MW) and solar (1.1 MW). With these parks, CPFL Renovaveis can meet the demand of a city with more than 9 million inhabitants.

(BRL 1 = USD 0.201/EUR 0.178)

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