OSLO, Feb 13 (Reuters) - Norway’s Statkraft, Europe’s biggest producer of renewable energy, will boost its stake in Brazilian power company Desenvix by acquiring 36.85 percent from Jackson Empreendimentos S.A., the company said on Friday.
The Norwegian state-owned company already owns 44.45 percent in Desenvix, whose assets include shares in 10 hydropower plants, a wind farm and minority stakes in two transmission lines.
Becoming the majority owner of Desenvix would give Statkraft a platform for further expansion in Brazil’s large and growing power market, Statkraft’s Chief Executive Christian Rynning-Toennesen said.
The parties plan to complete the sale in the second quarter of 2015 pending approvals by Brazilian pension fund FUNCEF, which holds the remaining 18.7 percent stake in Desenvix and power and antitrust regulators, the company said in a statement.
Statkraft first invested in Desenvix in 2012. (Reporting by Nerijus Adomaitis; Editing by James Dalgleish)