June 23, 2018 12:58 AM ET

Electric Utilities

Company Overview of Neoenergia S.A.

Company Overview

Neoenergia S.A. generates, transmits, distributes, trades in and commercializes electric energy in Brazil. The company operates 37 electricity generation plants comprising 14 hydroelectric, 2 thermoelectric, 16 wind, and 5 cogeneration plants. It has an installed electricity generation capacity of approximately 1,625 megawatts; and operates approximately 300 kilometers of transmission lines, as well as distributes electricity to approximately 37 million in the states of Bahia, Pernambuco, and Rio Grande do Norte. The company also provides consulting and energy management services. Neoenergia S.A. was founded in 1997 and is based in Rio de Janeiro, Brazil.

Praia do Flamengo 78

4 andar

Flamengo

Rio de Janeiro, RJ 22210-904

Brazil

Founded in 1997

10,073 Employees

Phone:

55 21 3235 9800

Key Executives for Neoenergia S.A.

CEO, Executive Director of Investor Relations & Member of The Executive Board
Chief Financial and Investor Relations
Executive Director of Human Resources & Member of Executive Board
Executive Director of Generation & Member of Executive Board
Executive Director of Planning & Control and Member of Executive Board
Compensation as of Fiscal Year 2017.

Neoenergia S.A. Key Developments

Eletropaulo Seeks To Sell Stake In Itself

Eletropaulo Metropolitana Eletricidade de São Paulo S.A. (BOVESPA:ELPL3) provided details on May 21, 2018 of the rules for an auction for companies to acquire a controlling stake in the firm. According to a presentation to investors, Eletropaulo said the interested companies would have to deliver their offers to the Sao Paulo’s exchange B3 by the end of May 24, 2018. The largest offer after this process would be registered on June 4, 2018, the day set to conclude the auction. Eletropaulo said that it will be possible for another company to present an offer between May 24, 2018 and June 4, 2018, if that is 5% bigger than the largest one standing. There are two offers currently for Eletropaulo’s controlling stake. The largest, of BRL 32.2 per share, is from Enel SpA (BIT:ENEL). The second largest, of BRL 32 per share, comes from Neoenergia S.A.

Eletrobras Reportedly To Sell Distribution Units At A Loss

Centrais Elétricas Brasileiras S.A. - Eletrobras (BOVESPA:ELET6) will have to take losses to dispose of six power distribution units, a government source with direct knowledge of the process told Reuters.The Mining and Energy Ministry is following a recommendation by Aneel to sell the six distribution firms to whichever bidder agrees to raise rates the least, according to the person. Equatorial Energia S.A. (BOVESPA:EQTL3), Neoenergia S.A. and Enel SpA (BIT:ENEL) are considering a possible purchase of some of the distributors, said the person. Investment firms and Energisa S.A. (BOVESPA:ENGI3 also could be interested, the person added. Eletrobras declined to comment, saying the model of sale for the distributors was still being studied.

Neoenergia Considers IPO Of $1.26 Billion In September

Neoenergia S.A. is considering launching its Initial Public Offering (IPO) in September 2017 and is already meeting with investment banks to discuss the matter, though a final decision will likely depend on the performance of IPOs currently underway, including Carrefour and IRB. Credit Suisse Group AG (SWX:CSGN), BB Banco de Investimento S.A. and Morgan Stanley (NYSE:MS) are involved in these preliminary discussions. The operation could raise some $1.26 billion. The IPO is expected to allow the company to increase its liquidity for shareholders Banco do Brasil and Previ according to sources close to the company, in addition to strengthening its cash flow for investment in energy generation. Banco do Brasil is expected to sell at least part of its share in the company through the IPO, whilst Previ is likely to sell its whole share in the company. None of the companies have officially commented on the matter.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 16, 2018
Eletropaulo Metropolitana Eletricidade de São Paulo S.A.
Private Placement
December 27, 2017
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