Brazilian ferroalloys producer Ferbasa said on Friday it will acquire a 100 percent stake of holding company BW I. The stock acquisition was approved by Brazil’s development bank, BNDES.
Ferbasa said the acquisition covers a number of single purpose ventures (SPV), including several wind energy assets: Central Eolica Angical SA, Central Eolica Caititu SA, Central Eolica Coqueirinho SA, Central Eolica Corrupiao SA, Central Eolica Inhambu SA, Central Eolica Tamandua Mirim SA and Central Eolica Teiu SA.
Ferbasa plans to use the SPVs to supply energy to its ferroalloy production, while selling any excessive energy produced.
A media report said the deal was valued at BRL 393 million ($120.9 million).
USD = BRL 3.25 (March 9)