The CSN (CSNA3) Assign it to an affiliate company CSN . Mining (CMIN3) Rights and obligations of the contract with the Equity Investment Fund (FIP) Astra Infraestrutura I . Multi-Strategy Equity FundWhich includes the acquisition of 100% of the shares issued by Chapeco Energy Corporation (CEC)the concessionaire to exploit Hydroelectric power station in Quebra-Queixo.
The contract was signed with FIP Astra, operated by Reag Administradora de Recursos, earlier this month with the participation of CSN Energia. The Agreement considers the possibility to assign and transfer CSN’s rights and obligations to any of its affiliates.
With the assignment of rights, CSN Mineração assumes the contractual position of CSN in the purchase and sale agreement, including all rights, duties and obligations arising from the said agreement.
In a material fact published on Monday (25), CSN said that the assignment and transfer had obtained the required approvals from the company for this purpose.
The company explained that CSN Mineração’s acquisition of the plant aims to “support and enhance its business expansion strategy, through investments in Renewable energy and self-production to increase competitiveness.”
The hydroelectric power plant in Quebra-Queixo has a capacity of 120 MW.
Closing the deal, which already considers CSN Mineração to be the buyer, is still subject, among other suspension conditions, to approval by the competition government and regulatory authorities.
Money Times are the 9 best investments!
Thanks for voting! Thank you, Money Times is among the 9 largest Brazilian initiatives in the digital world for investment. If you depend on the site’s content to take good care of your money, then vote and help Money Times become the best investment news portal in Brazil. We count on your support. Click here and vote!
