Brazil's Aneel approves Auren's merger with AES Brasil

Brazil's power sector regulator Aneel has given the go-ahead to the planned merger between Auren Energia SA (BVMF:AURE3) and AES Brasil Energia SA (BVMF:AESB3), thus paving the way for the creation of an 8.8-GW renewable energy platform.

Auren's filling notes that Aneel approved the transfer of indirect corporate control of AES Brasil Operacies SA, and also validated the change of control that will result in the conversion of AES Brasil into a wholly-owned subsidiary of Auren.

As previously reported, US-based AES Corporation (NYSE:AES) will sell its 47.3% stake in the Brazilian business to Auren for about USD 640 million (EUR 576.7m).

The change of control of AES Tiete Integra Solucoes em Energia Ltda, as well as other conditions precedent for the business combination are still pending Aneel's approval.

(USD 1.0 = EUR 0.901)

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