August 20, 2019 / 10:19 PM / a month ago

Brazil's Taesa to buy energy transmission company for $14 mln -filing

SAO PAULO, Aug 20 (Reuters) - Brazil utilities company Transmissora Aliança de Energia Elétrica SA said on Tuesday it has agreed to buy 100% of domestic energy transmission firm Rialma Transmissora de Energia 1 for 56.7 million reais ($13.99 million).

In a securities filing, Taesa, as the firm is known, added that Rialma is interconnected to one of its substations (SE Lagoa Nova), allowing operational advantages and consequently “contributing to the company’s growth plan and its consolidation in the Brazilian transmission sector.”

In an interview with Reuters in June, Taesa’s executives said the company was eyeing acquisition opportunities.

$1 = 4.0537 reais Reporting by Gabriela Mello; Editing by Sandra Maler

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