CADE (Administrative Council for Economic Defense) approved, without restrictions, the transaction between BTG Pactual bank and Rio Alto Energias Renováveis.
According to a ruling published this Friday (17) in the DOU (Official Gazette of the Union), the operation does not have the potential to cause harm to the competitive environment, since the combined market share of the companies is less than 20%.
Earlier this week, the BTG announced the execution of financial guarantees linked to three Rio Alto projects., which is undergoing extrajudicial recovery. The bank is the guarantor of a R$ 320,9 million loan contracted by the company with BNB (Banco do Nordeste) in June.
The operation involves the actions of three SPVs (Special Purpose Entities), responsible for the Santa Luzia 5, 7 and 9 power plants, located in Paraíba. Together, the projects total 150 MW of granted power capacity.
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