Brazil's competition regulator CADE has approved the merger between Auren Energia SA and AES Brasil Energia SA, paving the way for the creation of a significant renewable energy platform with 8.8 gigawatts (GW) of assets.
Under the merger agreement, Auren Energia will absorb AES Brasil, making it a wholly-owned subsidiary. AES Corporation will sell its 47.3% stake in AES Brasil to Auren for approximately USD 640 million (EUR 596.5 million).
CADE's approval is considered final and definitive, following the publication of the decision in the Federal Official Gazette after the 15-day deadline.
However, the completion of the deal remains subject to other conditions, including clearance from Brazil's power sector regulator Aneel.
