Brazil approves sale of wind energy firm to JV with CPPIB: Reuters


Power generating windmills; Photo courtesy of hadynyah/E+/Getty Images

Brazil’s antitrust watchdog Cade approved the sale of Ventos de Santo Estevao Holding, a wind energy company, to a joint venture between Votorantim Energia and Canada Pension Plan Investment Board, the federal register showed on Friday.

The wind company is owned by the Mario Araripe Group. CPPIB currently invests in government bonds, private sector securities and real estate in Brazil.

To explain its approval, Cade noted that the purchasing companies had a small share of the relevant market in the most conservative scenario.

(Reporting by Jose Roberto Gomes and Anthony Boadle)

(This story has been edited by Kirk Falconer, editor of PE Hub Canada)

Photo courtesy of hadynyah/E+/Getty Images