Privatization of 66.23% in CEEE-G

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This project involves the privatization of the state owned Companhia Estadual de Geração de Energia Elétrica (CEEE-G), operating in the state of Rio Grande do Sul, Brazil. Companhia Florestal do Brazil, a subsidiary of Companhia Siderúrgica Nacional (CSN). Companhia Florestal do Brazil acquired 66.23% shares in the state company that is responsible for more than 13% of power generation in Rio Grande do Sul state. Companhia Florestal do Brazil won the competitive bidding for the privatization outbidding the Companhia Energética de São Paulo (CESP) with 11% above the minimum. BNDES coordinated the privatization process while both BNDES and the government of Rio Grande do Sul were advised by Banco Genial (financial), EY (financial), Machado, Meyer, Sendacz and Opice Advogados (legal), Thymos Energia (technical). With the privatization a new 30 years concession contract will be granted to the Companhia Florestal do Brazil. The project cost is $179.5m (R$928m), and the privatization was completed on October 26th, 2022. https://www.ijglobal.com/articles/166173/buyer-found-for-brazilian-generator-privatization https://sema.rs.gov.br/companhia-florestal-do-brasil-arremata-ceee-g-por-r-928-milhoes https://www.ijglobal.com/articles/168069/csn-completes-ceee-g-privatization-process