Steelmaker Gerdau is taking full control of a Brazilian hydro plant, pushing its self-generated clean power past half of what it consumes to cut costs.
Brazil · Corporates
Key Facts
—The deal. Gerdau, Brazil’s largest steelmaker, is buying the stakes held by power firms Copel and Celesc in the Dona Francisca hydro plant.
—The result. The two purchases give Gerdau full ownership of the plant on the Jacuí River in Rio Grande do Sul state.
—The price. The two deals together carry an enterprise value of R$300m ($59m), paid from the company’s own cash.
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