EDF has signed a provisional agreement with Brazilian corporate group RME for the sale of 80% of Light, an electricity distribution company based in Rio de Janeiro.
The effective completion of the operation remains subject to the approval of the Brazilian regulation authority, the concerned companies’ boards of directors, and the relevant French and Brazilian authorities. Upon completion of the operation, EDF will keep 10% of Light’s capital, with the remaining 10% of its capital listed on the Brazilian stock market.
This operation is a follow-up to EDF’s 2005 announcement that it was seeking a strategic partner capable of guaranteeing the future of the subsidiary. EDF received offers from several investment groups and selected the Brazilian multi-service group RME.