Brazilian utility firm Companhia Paranaense de Energia (Copel) has confirmed that it has completed the 100% sale of its Copel Telecom unit. Accordingly, all shares have now been transferred to Bordeaux Participacoes, an acquisition vehicle formed by Bordeaux Fundo de Investimento em Participacoes Multiestrategia. The restated takeover fee was BRL2.507 billion (USD482.3 million), up from the initial bid of BRL2.395 billion.
As previously reported by TeleGeography’s CommsUpdate, on 9 November 2020 Copel Telecom was successfully auctioned via the B3 stock exchange in Sao Paulo. Bordeaux was named as the winning bidder, after committing to pay BRL2.395 billion – a 70.94% premium on the BRL1.401 million minimum bid stipulation. The Share Purchase and Sale Agreement was duly signed on 14 January 2021.
Notably, Bordeaux already owns another regional operator, Sercomtel, following a BRL130 million takeover which closed in December 2020.