Power Company Acquires Subsidiaries

Energisa, the Brazilian power holding company, will spend BRL75m to acquire the shares it doesn’t own of its three of its subsidiaries Borborema, Paraiba and Nova Friburgo, according to a statement. The move is being made to simplify the holdco’s ownership structure and consolidate its holdings, which includes a total of 9 different units located around the country. Energisa is publicly listed, but is largely held by two large groups of private shareholders.