March 2, 2018 / 12:58 PM / in 2 months

Brazil approves sale of wind energy firm to JV with Canada pension fund

RIO DE JANEIRO (Reuters) - Brazil’s antitrust watchdog Cade approved the sale of Ventos de Santo Estevao Holding, a wind energy firm, to a joint venture between Votorantim Energia and Canadian pension fund CPPIB, the federal register showed on Friday.

The wind firm is owned by the Mario Araripe Group. CPPIB currently invests in government bonds, private sector securities and real estate in Brazil.

To explain its approval, Cade noted that the purchasing companies had a small share of the relevant market in the most conservative scenario.

Reporting by Jose Roberto Gomes and Anthony Boadle

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