Terna Participacoes, an operator of electricity transmission grids, has agreed to acquire the entire share capital of the Empresa de Transmissao de Energia do Oeste, a holder of a 30-year concession of 502km of 440KV transmission lines in the state of Sao Paulo.
As at December 31, 2006, Empresa de Transmissao de Energia do Oeste’s (ETEO) assets totaled approximately E76.4 million and its loans payable approximately E50 million. Through this deal, Terna Group will be able to further consolidate its presence in Brazil.
The value of the deal (enterprise value) is approximately E216.8 million.