By Brazil Stock Guide – Brazil’s antitrust authority, Cade, has approved without restrictions the acquisition of Tempo Comercializadora Varejista de Energia by Light S.A. (B3: LIGT3), according to a decision published on Thursday (8) in the country’s official gazette.
Under the transaction, Light Energia, a unit of Light S.A., will acquire 100% of the shares of the São Paulo–based power trader, which holds authorization from the Electric Energy Trading Chamber (CCEE) to operate in Brazil’s free power market and conducts trading activities in the deregulated contracting environment.
In filings to Cade, Light Energia said the deal is expected to improve operating efficiency and strengthen competitiveness in Brazil’s power sector by expanding its footprint in energy commercialization. Tempo Energia, the seller, told regulators the divestment represents an opportunity to streamline its corporate structure. Financial terms were not disclosed.
The clearance by Cade does not complete the transaction. Closing remains subject to approvals from the electricity regulator Aneel and the CCEE, which oversee corporate changes and market participation rules in the sector.
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