Energisa S.A. completed the acquisition of additional 30.9% stake in Energisa Mato Grosso - Distribuidora de Energia S/A for approximately BRL 570 Million.
April 15, 2018
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Energisa S.A. (BOVESPA:ENGI3) made an offer to acquire additional 33.4% stake in Energisa Mato Grosso - Distribuidora de Energia S/A (BOVESPA:ENMT4) from Centrais Elétricas Brasileiras S.A. - Eletrobras (BOVESPA:ELET6) and others for approximately BRL 610 million on December 8, 2017. Under the terms of the offer, Energisa S.A. is willing to acquire up to 71.1 million shares, accounting for 33.40% of total share capital, consisting of up to 16.7 million common shares and up to 54.4 million preferred registered book-entered shares and will offer BRL 8.6 per share. The price to be offered is BRL 8.60 per share, a price that may change according to the terms set out in the Notice, in the event that between the publication of the Notice and the date the offering shares are auctioned EMT pays out dividends or interest on shareholders' equity or the shares begin to be traded ex-dividends or ex-interest, as the case may be, or as a result of a change to EMT's share capital caused by splitting or grouping shares. To acquire the shares Energisa may use cash and/or borrow from financial institutions. In the event it acquires more than 2/3 of the free float of a given species and class, Energisa S.A undertakes to acquire the remaining offering shares for the term of 3 months as from the offering auction date, restated for the change in the rate of the special system for settlement and custody of the Brazilian Central Bank, published by ANBIMA - Brazilian Association of Financial and Capital Market Entities since the date of the auction settlement until the date of effective payment, to be paid in current local tender and possibly adjusted for any payments or entitlements to dividends or interest on shareholders' equity. The deal was approved by Board of Directors of Energisa S.A and Centrais Elétricas Brasileiras S/A. The auction will be held on January 16, 2018. and settlement will be made on January 19, 2018. Ernst & Young Auditores Independentes S.S prepared the appraisal report for the offer. Modal Distribuidora De Títulos E Valores Mobiliários Ltda acted as intermediary institution for the offering.
Energisa S.A. (BOVESPA:ENGI3) completed the auction of additional 33.4% stake in Energisa Mato Grosso - Distribuidora de Energia S/A (BOVESPA:ENMT4) on January 16, 2018. On the day of Auction, the offering was accepted by the holders of 12 million common shares and 39.5 million preferred registered book-entered shares. As more than 2/3 of the common and preferred free float has been acquired, the holders of EMT's remaining free float are entitled to sell their shares to Energisa S.A. on or before April 16, 2018 for the per-share price of BRL 8.60. Any shareholder who wishes to exercise the subsequent sale right may do so within the aforesaid period by submitting an application to Banco Itaú S.A., the EMT share registrar, or selling them directly in the B3 electronic trading system. Eletrobras conducted the sale of 10.3 million preferred shares.
Energisa S.A. (BOVESPA:ENGI3) completed the acquisition of additional 30.9% stake in Energisa Mato Grosso - Distribuidora de Energia S/A (BOVESPA:ENMT4) for approximately BRL 570 Million on April 16, 2018. Between January 16, 2018 to April 16, 2018, ENERGISA S.A. acquired 65,740,888 shares consisting of 12,357,131 common shares and 53,383,757 preferred shares.
Energisa Mato Grosso Distribuidora de Energia SA, formerly Centrais Eletricas Matogrossenses SA Cemat, is a Brazil-based company primarily engaged in electric power industry. The Company is involved in the distribution, transmission and generation of electrical energy. The Company operates a transmission and distribution network, as well as five thermoelectric generation plants, which are located in Colniza, Comodoro, Guariba, Paranorte and Rondolandia. The Company provides electric power for residential, industrial, commercial, rural, public lighting and public service consumers. As of December 31, 2011, the Company held a concession for the area of the entire Brazilian state of Mato Grosso, which totals 903,358 square kilometers, serving approximately 1.1 million customers in 141 municipalities.
Energisa S.A. completed the acquisition of additional 30.9% stake in Energisa Mato Grosso - Distribuidora de Energia S/A for approximately BRL 570 Million.