Light, a privately controlled distribution company in Brazil, has won the privatization tender for EletroPaulo Metropolitana, a distribution company which serves 4.2 million customers in the capital, Sao Paulo.
According to Light, Metropolitana is the largest distribution company in Brazil with a 13 per cent share of the Brazilian market. Under the terms of the deal, Light paid $1.75 billion for 28.5 per cent of the capital of Metropolitana and 75 per cent of the voting rights.
Light, the Rio de Janeiro state distribution company, is controlled by the French state electricity company Electricité de France, the US electricity companies Houston and AES and the Brazilian iron and steel group CSN.
The distribution company has an 8.5 per cent share of the Brazilian market.
