ISA: Business Formalizes Acquisition Of IENNE In Brazil

By | October 7, 2017

ISA CTEEP, a subsidiary of Colombia’s Interconexi?n El?ctrica (ISA) in Brazil, sealed the acquisition of the entire shareholding that Isolux and Cymi had in Affiliation El?ctrica Norte e Nordeste (IENNE).

As a repercussion, ISA’a subsidiary now owns a 100% stake in the business, with 327,284,000 regular shares. The transaction would yield ISA CTEEP yearly incomes amounting to R$ 40.9 million (US$ 12.92 million).

According to ISA’s chairman, Bernardo Vargas Gibsone, “the acquisition strengthens Grupo ISA’s position in Brazil, specifically in the northeastern area, and further ratifies our interest in continuing to check out chances for rewarding development because nation.”

IENNE is a civil service’s concessionaire electrical power transmission. It started its industrial operation in 2011, to integrate the Brazilian National Interconnected System (SIN) and increase the capacity for electrical affiliation in the northern and northeastern regions of the South American nation.

The material has been offered by InstaForex Business – www.instaforex.com

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