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On July 8, 2024, Equatorial Transmissão agreed to sell 100% of Equatorial Transmissora 7 SPE to Infraestrutura e Energia Brasil, a subsidiary of Caisse de Dépôt et Placement du Québec (CDPQ). The deal is valued at up to BRL 1.19 billion (approximately C$295 million), including BRL 840 million (C$208 million) in equity and BRL 350 million (C$87 million) in net debt. An upfront payment of BRL 710 million (C$176 million) was made, with the balance to be paid in installments and performance-based earn-outs.
Legal counsel for Equatorial was provided by Stocche Forbes Advogados, with partners Frederico Moura and Teo Galvão leading. In-house counsel included Carolina Vieira and team. Buyer legal support came from Pinheiro Neto Advogados, led by Roberta Demange, with Sophie Gallizioli representing Infraestrutura e Energia Brasil in-house. The transaction remains subject to regulatory approvals.
Parties
Company
Equatorial Transmissão
Company
Infraestrutura e Energia Brasil
Company
Caisse de dépôt et placement du Québec (CDPQ)
Deal Type
Merger & AcquisitionIndustry
InfrastructureTransaction
$ 295,000,000Deal Status
ClosedClosing Date
09 December 2024