BR Distribuidora buys 70% of Targus Energia

On Thursday (26), BR Distribuidora sealed its entry into the market of commercialization of electricity, buying 70% of Targus Energia for R $ 62.1 million. According to the relevant fact disclosed, the transaction also provides for earn-out mechanisms and options for buying and selling the remaining 30%. 

Founded in 2017, Targus Energia has about 200 consumer units in its portfolio, having traded 3,900 gigawatt hours (GWh) in 2019, obtaining a turnover of close to R$ 900 million.

BR Distribuidora reported that the consummation of the operation is subject to compliance with certain previous conditions, including the approval of the operation by the Administrative Council for Economic Defense (Cade).

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