Omega Geração S.A. completed the acquisition of 99.99% stake in Eólica Hermenegildo I S.A., Eólica Hermenegildo II S.A., Eólica Hermenegildo III S.A. and Eólica Chuí IX from Centrais Elétricas Brasileiras S.A. - Eletrobrás for approximately BRL 520 million.
November 29, 2020
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Omega Geração S.A. (BOVESPA:OMGE3) won a bid to acquire 99.99% stake in Eólica Hermenegildo I S.A., Eólica Hermenegildo II S.A., Eólica Hermenegildo III S.A. and Eólica Chuí IX from Centrais Elétricas Brasileiras S.A. - Eletrobrás (BOVESPA:ELET6) for approximately BRL 510 million on July 13, 2020. Under the terms of the transaction, Omega Geração S.A. made a bid for BRL 134 million in cash and assumed debt of BRL 378.7 million. Additionally, an earn-out amount of BRL 185/MWh was also proposed. The first installment, in up to three working days following the execution of the agreement, at the minimum percentage amount of 5% of the sale price. It shall be granted to the winning bidder the option to offer a percentage value above 5% of the sale price to pay the first installment. Post-completion of the conditions, the second installment of 95% of the sale price, as well as transfer of shares in the respective company book. Payment of the second installment shall occur within the maximum term of one year once the sale purchase and sale agreement is signed by Omega Geração S.A. The purchase price is subject to adjustments. In a related transaction, Omega Geração S.A. won a bid to acquire 78% stake in Santa Vitória do Palmar Holding S.A. from Centrais Elétricas Brasileiras S.A. – Eletrobrás for BRL 430 million on July 30, 2020.
The transaction is subject to customary conditions including approvals from National Electric Energy Agency, Administrative Council for Economic Defense, Governmental Authorizations and shareholder approvals of Centrais Elétricas Brasileiras S.A. – Eletrobrás in a meeting scheduled on September 2, 2020. On July 30, 2020, the Board of Directors of Centrais Elétricas Brasileiras S.A. - Eletrobrás approved the transaction by unanimous vote. The transaction is approved by the shareholders of Centrais Elétricas Brasileiras S.A. - Eletrobrás. Administrative Council for Economic Defense approved the transaction on September 8, 2020. The transaction has been approval from regulatory board on November 25, 2020. Virtus BR Partners Assessoria Corporativa Ltda. acted as the fairness opinion provider for Centrais Elétricas Brasileiras S.A. - Eletrobrás.
Omega Geração S.A. (BOVESPA:OMGE3) completed the acquisition of 99.99% stake in Eólica Hermenegildo I S.A., Eólica Hermenegildo II S.A., Eólica Hermenegildo III S.A. and Eólica Chuí IX from Centrais Elétricas Brasileiras S.A. - Eletrobrás (BOVESPA:ELET6) for approximately BRL 520 million on November 30, 2020.
Serena Energia SA, formerly known as Omega Energia SA, is a Brazil-based holding company. The Company provides strengthen businesses and people through clean and simple energy, ensuring cost reduction and contributing to a low-carbon economy. Through its subsidiaries, Serena Geracao SA (formerly Omega Geracao SA) and Serena Desenvolvimento SA (formerly Omega Desenvolvimento SA), the Company engages in the participation and development, directly or through a joint venture, consortium or any other company in which the Company holds equity interests, of renewable energy generation of hydropower plants (SHP), wind farms (CGE), solar plants (CGS) and biomass-fired thermoelectric plants (UTE), as well as in companies that operate in the trading of electric energy and energy efficiency.
Omega Geração S.A. completed the acquisition of 99.99% stake in Eólica Hermenegildo I S.A., Eólica Hermenegildo II S.A., Eólica Hermenegildo III S.A. and Eólica Chuí IX from Centrais Elétricas Brasileiras S.A. - Eletrobrás for approximately BRL 520 million.
SERENA ENERGIA S.A. 
