Brazil’s Eletrobras says unit paid $32 mln for Madeira stake

Industry:    2023-03-21

Brazil power company Eletrobras said that its subsidiary Furnas acquired a stake of Madeira Energia for 168 million reais ($32 million).

Madeira Energia operates the Santo Antony hydroelectric power plant.

In a securities filing, Eletrobras said that Furnas purchased the Madeira stake which was held by Cemig GT, Andrade Gutierrez Participacoes SA and Novonor Energia do Brasil.

With the acquisition, Eletrobras indirectly holds more than 95% of Madeira.

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