São Paulo – Consortium São Paulo Energia placed the winning bid this Friday (19) to become the majority stakeholder in Companhia Energética de São Paulo (CESP). During a public session at the São Paulo Stock Exchange, each CESP share was sold for BRL 14.60 – the starting price was BRL 14.30. The state-run utility was privatized with no competition, since the winning consortium was the sole bidder.
Publicly-traded corporation CESP is a power generation concessionaire in the state of São Paulo. It was established on December 5, 1966 under the name Centrais Elétricas de São Paulo, through the merger of 11 different utility companies.
CESP operates three hydroelectric plants: Jaguari, Paraibuna and Porto Primavera. Between the three of them, these plants boast 1,654.6 MW in installed capacity and 1,056.6 MW in guaranteed output. The operations comprise 18 power generation units in total.
Translated by Gabriel Pomerancblum
