By Brazil Stock Guide – Brazil’s National Electric Energy Agency, known as Aneel, said Tuesday, Aug. 11, that Âmbar Energia Amazonas had satisfied all conditions established for the transfer of tertiary control over the Amazonas Energia power-distribution concession.
Aneel’s board confirmed that the company submitted the required documents, demonstrated technical capacity and completed the capital injection stipulated under the agreement supporting the transaction.
Regulatory Conditions
The requirements included the waiver of any preexisting rights that Âmbar may have had against Brazil’s federal government in connection with the concession.
The company also provided evidence that the transaction had been formally completed, along with documentation showing compliance with financial, legal, tax and electricity-sector requirements established by the regulator.
Capital and Technical Capacity
Aneel said Âmbar demonstrated that it had the technical capacity required to take control of the concession. The regulator also confirmed the completion of the required capital contribution.
Those measures formed part of the conditions assessed by Aneel before its board recognized compliance with the control-transfer agreement.
Federal Approvals
The transaction also received approval from Brazil’s Ministry of Mines and Energy and the Federal Court. The transfer is part of the plan adopted to support the recovery of Amazonas Energia.
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