Sale of minority stakes is part of a strategy to focus on priority assets and simplify the corporate structure
Energia –formerly Eletrobras– announced on Monday (May 4, 2025) the sale of minority stakes in transmission assets for R$451.5 million to Participações, a company linked to the Colombian group Grupo Energía Bogotá. The operation involves 49% stakes in 4 projects and was disclosed in a statement to the market.
The assets traded are the transmission companies: Goiás Transmissão, MGE Transmissão, Transenergia Renovável and Transenergia São Paulo. Together, the concessions total around 1,000 km of transmission lines distributed across six states and are valid until 2039–2040.
The completion of the deal still depends on the fulfillment of usual conditions precedent, including regulatory approvals.
The assets date back to the time when the company was still the state-owned Eletrobras. Axia has investments in dozens of assets through special purpose companies, “SPEs”, in which it is a minority shareholder.
The use of these SPEs allowed the company, as a state-owned company, to expand its business without submitting to the requirements of the Tender Law. On the other hand, it resulted in more complex governance structures for managing operations.
The movement is an example of internal reorganization in the electricity sector, with companies seeking greater operational efficiency and capital allocation.
