- ISA, through this COP 1 trillion transaction, acquires 100% of PBTE’s shares.
- The purchase was made through ISA CTEEP, the group’s affiliate in Brazil.
- Through this new company, ISA Group reaffirms its relevant position in the state of São Paulo.
ISA CTEEP ratified its commitment to the development of Brazil by strengthening its energy infrastructure upon acquiring all the shares representing the capital stock of Piratininga-Bandeirantes Transmissora de Energia (PBTE). This acquisition was made through the purchase of the interests held by SF Energía S.A. (93%) and Kavom Energía (7%) in this company.
The final acquisition price was BRL 1.571 million (COP 1 trillion), after adjusting the price set forth in the purchase and sale agreement signed on December 2, 2020. PBTE owns a 30-kilometer (15 km double circuit) subway transmission line, which connects two ISA CTEEP substations in the city of São Paulo. This concession was awarded in a public tender held by the Agência Nacional de Energia Elétrica (ANEEL) in 2016.
The completion of this transaction, which will generate annual revenues of approximately COP 128 billion for ISA, follows the fulfillment of all the previous conditions agreed upon in the share purchase and sale agreement, including, among others, the authorization of Brazilian government entities such as the Conselho Administrativo de Defesa da Concorrência (CADE) and ANEEL.
“This transaction continues to strengthen the group’s position in the energy transmission sector in Brazil. This asset will increase ISA CTEEP’s total revenues by 4%. Additionally, it has the potential for operating synergies because of its strategic location by connecting two of our affiliate’s substations. This purchase reaffirms ISA Group’s strategy of profitable growth in Brazil and the region“.
Bernardo Vargas
ISA transmits about 33% of the energy produced in the country, 60% of the energy consumed in the Southeast Region, and 94% of the energy consumed in the State of São Paulo. ISA operates in 17 of the 26 Brazilian states, where it has more than 18.000 km of transmission lines.
