China Three Gorges (Luxembourg) Energy S.à.r.l. made an offer to acquire 4.9% stake in Rio Paranapanema Energia S.A (BOVESPA:GEPA4) for approximately BRL 120 million on June 2, 2017. Under the terms of the deal, China Three Gorges will acquire 0.26 million common shares and 4.3 million preferred shares of Rio Paranapanema at BRL 27.66 per share. The offer was approved through registration with the Securities Commission on June 2, 2017. The offer is expected to complete on July 25, 2017. BTG Pactual Corretora De Titulos E Valores Mobiliarios S.A. acted as broker and TozziniFreire Advogados acted as legal advisor in the deal.