Energisa S.A. completed the acquisition of 87% stake in Alsol Energias Renováveis S/A from Algar Ventures and Gustavo Malagoli Buiatti.
June 16, 2019
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Energisa S.A. (BOVESPA:ENGI3) agreed to acquire 87% stake in Alsol Energias Renováveis S/A from Algar Ventures and Gustavo Malagoli Buiatti for BRL 11.7 million on May 3, 2019. The consideration is subject to price adjustment. The transaction is subject to entering into a shareholders' agreement. The transaction is also subject to approval from the Brazilian Antitrust Authority (CADE) and regulatory approvals. On May 29, 2019, Brazil's antitrust regulator Cade approved the transaction.
Energisa S.A. (BOVESPA:ENGI3) completed the acquisition of 87% stake in Alsol Energias Renováveis S/A from Algar Ventures and Gustavo Malagoli Buiatti on June 17, 2019. Pursuant to the transaction, Algar Ventures will retain 10% stake in Alsol Energias Renováveis while Gustavo Buiatti, Alsol's founder will have the remaining 3% stake. Gustavo Buiatti will become the director of technology in the new business. The conditions precedent for consummating the deal have been performed, including but not limited to obtaining prior approval from the Administrative Council for Economic Defense – CADE. Following the completion of the Acquisition, new shares of Alsol have also been issued, all subscribed and paid in by Energisa and Algar.
Energisa SA is a Brazil-based holding company involved in the energy sector. Through its subsidiaries, the Company is mainly engaged in the distribution and marketing of electric energy. It distributes energy for residential, industrial, commercial and rural consumption. The Company operates in the states of Rio de Janeiro, Sao Paulo, Parana, Minas Gerais, Sergipe, Paraiba, Mato Grosso, Mato Grosso do Sul, Tocantins, Rondonia and Acre. In addition to entities engaged in the electric energy distribution, the Company's subsidiaries include Energisa Solucoes SA, which provides services related to generation and distribution of electric power; Energisa Servicos Aereos SA, which provides thermographic inspection services; and Energisa Planejamento e Corretagem Seguros Ltda, involved in the insurance brokerage, among others.
ENERGISA S.A. 
