Enel closes acquisition of Brazilian distribution company CELG

Published on Monday, 20 February 2017

“The completion of the acquisition of CELG is an important milestone for our growth strategy in Latin America. Through this transaction, we are further expanding our presence in the Brazilian distribution segment, making Enel Brasil the country’s second largest power distributor. Moreover, after Italy and Iberia, Brazil becomes the third largest market for the Group in terms of customers. We are fully committed to making the most of CELG’s growth potential, leveraging our technology expertise and our global best practices to strengthen the company’s service to its customers”

– Francesco Starace, Enel CEO

Following the closing of the transaction, a General Shareholders’ Meeting of CELG will be held to appoint the company’s new Board of Directors.

Established in 1956 and headquartered in Goiânia, CELG (previously approximately 51% owned by the Federal Republic of Brazil via its controlled electricity company Eletrobras, and around 49% by the State of Goiás via its holding company Celg-Par) operates in a territory that covers more than 337,000 km2 through a concession that is valid until 2045. CELG’s market includes 237 municipalities with a combined population of about 6.2 million people. CELG’s customer base of 2.9 million is served via a network over 200,800 km long. The sale of CELG is part of the Brazilian government’s programme for the privatisation of state assets.