CPPIB, Votorantim acquire controlling stake in CESP for $460 million


Altered Energy – Alternative Energy news

A consortium featuring Votorantim Energia and Canada Pension Plan Investment Board (CPPIB) and others has acquired a controlling stake in Brazilian hydropower company Companhia Energtica de Sao Paulo (CESP) in a deal worth BRL1.7 billion ($460 million). The stake acquired from the State of Sao Paulo during a privatization auction by the consortium includes 80.2% of the common shares of CESP and 13.7% of its class B preferred shares.

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