Brasiliana acquires Eletropaulo Telecommunications for USD296.3m

4 Jun 2010

The boards of Brazilian companies Brasiliana Energy and its subsidiary Eletropaulo have approved a deal under which Brasiliana will acquire more than 39.609 million shares of Eletropaulo Telecommunications (AES Eletropaulo Telecom) from AES Eletropaulo, representing 99.99% of the capital of AES Eletropaulo Telecom. The purchase and sale of shares agreement was originally signed on 15 September 2005, in compliance with the provisions of Law No. 10.848/04 and the requirements of the National Agency of Electric Energy (ANEEL), the pair said in a statement. The purchase price is understood to be USD296.3 million and will be completed by 30 June.