Engie Brasil (EGIE3) sells thermal plant for BRL 1.8 billion, Cyrela (CYRE3) reduces stake in Cury (CURY3) and more

Corporate Radar highlights Engie Brasil’s thermal asset sale, Cyrela’s Cury stake reduction, Petrobras CEO health update and more.

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Engie Brasil (EGIE3)

The company signed an agreement for the sale of the Pampa Sul thermal power plant to Perfin Space X, an investment fund for participation in infrastructure. The company will receive R$ 2.2 billion for the sale, of which R$ 450 million refers to the price of the assets and R$ 1.8 billion of the debt assumed by the buyer.

UTE Pampa Sul, located in Candiota, in the state of Rio Grande do Sul, uses coal as an energy source and has an installed capacity of 345%.

Cury (CURY3) and Cyrela (CYRE3)

Cury informed the market that its shareholder Cyrela now holds approximately 24.24% of the company’s share capital. The previous share was 28.28%, according to an update on B3 on September 9.

“The sale of shares in question here is part of the management of Cyrela’s shares and has no intention of changing the composition of control or the administrative structure of the company,” the statement said.

according to EstadãoPetrobras confirmed that the oil company’s president, Caio Paes de Andrade, has started treatment, but will continue to ship normally, mostly from Brasília, where he is spending most of the week.

The diagnosis was not confirmed by the company, but by sources familiar with the case, according to The Estadãoconfirm that Petrobras CEU has been diagnosed with cancer.

The company announced the acquisition of control over Catlog Logística de Transportes, in which Tegma already had a 49% stake. With the purchase, the company now holds 100 percent of the shares of the acquired company, which had been inactive since 2014. According to Tegma, the deal does not represent a relevant investment for the company.

“The acquisition of the remaining shares of Catlog is part of a plan for corporate simplification, utilization of assets and separation of interests. For this purpose, the Company’s contracts on vehicle logistics operations will be transferred to Catlog,” Tegma said in a press release.

The company’s board of directors approved the appointment of Márcia Fragoso Soares as director of technological development, environment and corporate.

The company inaugurated another unit for orthopedic solutions and health in motion, the third to open in 2022. Nova Vita Ortopedia e Fisioterapia is located in São Paulo.

“This opening is in line with the company’s plans to strengthen its ecosystem with integrated solutions in coordinating the healthcare journey of its users,” the company said in a statement.

With the new unit, Fleury also wants to organically expand its business line focused on healthcare solutions in addition to diagnostics.

Tarpon investment funds increased their position in the company’s capital, reaching 10.009% of the company’s share. “The purpose of the participation is immediate investment and therefore such participation, apart from not having the objective of changing the control of the shares or the administrative structure of the company, may be increased or decreased according to market conditions,” the company said in a statement.

Brazil Agro (AGRO3)

The company purchased a rural property located in the municipality of Querência, Mato Grosso state. The estate has a usable area of ​​5.4 thousand hectares (total area of ​​10.8 thousand hectares), of which 80% is suitable for another crop. The price of the acquisition is R$ 285.6 million (302 bags of soybeans per useful hectare), which will be paid in two installments – an advance plus an annual installment.

The arbitral tribunal upheld the company’s new request for a new stay of arbitration requested by Kentucky Fried Chicken International Holdings (KFC), regarding differences over the master franchise agreement signed by the two companies.

A new suspension was granted so that the parties could continue to negotiate, by mutual agreement, a solution to the conflict. The arbitration proceedings will be suspended until October 12, 2022.

Infracommerce (IFCM3)

E-commerce platform Infracommerce announced this Friday that it has renegotiated installments related to acquisitions made in 2020 and 2021, reducing the amount to be paid this semester by BRL 235.5 million to BRL 60 million.

The reduction, along with the extension of the term, takes into account adjustments to transaction prices and funds that shareholders have reinvested in the company in the context of the recapitalization announced by Infracommerce in August, according to a statement to the market. The company did not clarify which acquisitions are involved or the amount of debt for each of them.

The company announced that through renegotiations, they extended the repayment period for part of the installment related to acquisitions from the second half of 2022 to the period from 2023 to 2027.

AES Brazil (AESB3)

Director Susan Pasley Keppelman Harcourt submitted a letter of resignation to the board effective September 15, 2022. Board members elected Maria Paz Teresa Cerda Herreros, replacing Harcourt’s term.

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