Brazilian regulator okays Auren's merger with AES Brasil

Brazil's competition regulator CADE has given the green light to the planned merger between Auren Energia SA (BVMF:AURE3) and AES Brasil Energia SA (BVMF:AESB3), a transaction that is expected to create a renewable energy platform with 8.8 GW of assets.

According to the merger announcement, Auren will absorb AES Brasil and make it a wholly-owned subsidiary. US-based AES Corporation (NYSE:AES) will sell its 47.3% stake in the Brazilian business to Auren for about USD 640 million (EUR 596.5m).

CADE's approval is final and definitive, following the 15-day deadline for publication of the decision in the Federal Official Gazette. However, the deal is still subject to other precedent conditions such as receiving clearance from power sector regulator Aneel.

(USD 1.0 = EUR 0.932)

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