Brazil's Equatorial sells power transmission unit to Canadian fund-backed firm
SAO PAULO, July 9 (Reuters) -Brazilian energy company Equatorial Energia EQTL3.SA has agreed to sell one of its power transmission subsidiaries to a firm backed by Canadian investment fund Caisse de Depot et Placement du Quebec (CDPQ), the companies said on Tuesday.
The deal for Infraestrutura Energia to buy SPE 07, which owns transmission assets in Para state, has an enterprise value of up to 1.19 billion reais ($218.61 million), Equatorial said in a securities filing.
The price tag takes in to account an equity value of up to 840 million reais and a net debt of 350 million reais, it added.
The transaction is still pending approval from Brazilian energy agency ANEEL and antitrust watchdog CADE.
Equatorial already sold power transmission subsidiary Intesa to CDPQ's Infraestrutura Energia in late 2023 for an enterprise value of up to 714 million reais.
The sale of SPE 07 comes as Equatorial eyes a strategic role in Brazilian water utility Sabesp SBSP3.SA, which is undergoing a privatization process.
($1 = 5.4436 reais)
Reporting by Luana Maria Benedito in Sao Paulo
Editing by Matthew Lewis
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