Copel Telecom sale agreement signed with Bordeaux Fund

19 Jan 2021

Parana-based state power company Companhia Paranaense de Energia (Copel) has announced that a Share Purchase and Sale Agreement relating to its subsidiary Copel Telecom was signed with Bordeaux Participacoes, part of the Bordeaux Fundo de Investimento em Participacoes Multiestrategia (Bordeaux Multi-Strategic Investment Fund), on 14 January. Going forward, the transaction is subject to approval from the National Telecommunications Agency (Agencia Nacional de Telecomunicacoes, Anatel) and the Administrative Council for Economic Defence (Conselho Administrativo de Defesa Economica, CADE).

As previously reported by TeleGeography’s CommsUpdate, in November 2020 the Bordeaux Fund was named as the winning bidder for 100% of Copel Telecom, following an 18-round auction which was staged via the B3 stock exchange in Sao Paulo. Copel confirmed that the final bidding price reached BRL2.395 billion (USD447.1 million), noting that this price represented a 70.94% premium on the BRL1.401 million minimum bid stipulation.

Brazil, Copel Telecom