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Brazil's Equatorial sells Intesa in $142 mln deal

Reuters

SAO PAULO, Nov 1 (Reuters) - Brazilian energy company Equatorial Energia said on Wednesday it has agreed to sell power transmission subsidiary Intesa to Infraestrutura e Energia Brasil SA for an enterprise value of up to 714 million reais ($141.85 million).

That includes an equity value of 396 million reais, of which 319 million will be paid upon closing of the transaction and the rest as earn-out, and a net debt of about 318 million reais, Equatorial said in a securities filing. ($1 = 5.0334 reais) (Reporting by Gabriel Araujo; Editing by Steven Grattan)