M&As this week: Centrais Eletricas Brasileiras and Carnegie Wave Energy
Centrais Eletricas Brasileiras has reached an agreement with its shareholders to divest a 50.93% stake in Celg Distribuicao for a minimum purchase price of BRL1.8bn ($570.97m).
Carnegie Wave Energy has reached an agreement to acquire the remaining 65% stake in Energy Made Clean in exchange for A$13m ($9.92m) in cash and shares.
Carnegie Wave Energy acquired a 35% stake of the company in April 2016. As part of the current transaction, the firm will also acquire Energy Made Clean's grid-connectable solar photovoltaic (PV) projects in Western Australia and the Clear Energy subsidiary, which holds an energy retail license in Western Australia.
Carnegie Wave Energy will also continue to work with existing alliance partners including Infratech and Eastern Gurama.
Guangxi Guidong Electric Power has reached an agreement to acquire a 51% stake in an electric power company based in Guangzhou for CNY52m ($7.67m).