August 31, 2018 / 12:24 PM / 3 months ago

Brazil's Energisa has cash for Eletrobras acquisitions

RIO DE JANEIRO, Aug 31 (Reuters) - Brazil’s Energisa SA has enough cash for mandatory capital increases in two power distributors it acquired in an auction this week from state-controlled power company Centrais Elétricas Brasileiras SA , the company said in a presentation on Friday.

Energisa SA said the acquisition of Eletroacre and Ceron, which operate in the northern states of Acre and Rondônia, would increase the ratio of its debt to earnings before interest, taxation, depreciation and amortization to 3.5 from 3 currently. (Reporting by Alexandra Alper Editing by Daniel Flynn)

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