CADE Approves Sale of Omega Group's Stake in SPEs to Eurofarma

CADE Approves Sale of Omega Group's Stake in SPEs to Eurofarma
Photo: pixabay.com 08.12.2022 128

Special Purpose Entities (SPEs) operate in power generation in Xique-Xique and Gentio do Ouro, in Bahia, Brazil.

The General Superintendence of the Administrative Council for Economic Defense (SG/CADE) has approved the purchase, by Eurofarma, of up to 14% of the capital stock of Omega Desenvolvimento's SPEs. The SPEs will produce electric energy in the wind matrix in Xique-Xique (BA) and Gentio do Ouro (BA). The SG's order approving the operation, without restrictions, was signed on December 6.

✔️Eurofarma is a Brazilian laboratory that produces and markets drugs for human and veterinary health. The organization operates in more than twenty countries in the main pharmaceutical segments and is controlled by its founding family. 

✔️Omega Desenvolvimento is part of the Omega Group, a holding company that has equity stakes in entities that develop, implement, and operate electric power generation assets.

Eurofarma's expectation is to benefit from the energy production generated for self-consumption and achieve its cost reduction goals, besides becoming a more sustainable company.

According to the SG's opinion, in all electric power generation market scenarios analyzed, the joint participation of SPEs is very low,thus, the unit concluded that there is no risk of foreclosure of the observed markets as a result of the transaction, and approved the deal without restrictions.

If CADE's Tribunal does not reopen the concentration acts for analysis or if no appeal is filed by interested third parties within 15 days, the deals will be definitively approved by the antitrust agency.

Access the concentration act nº 08700.008894/2022-14

Source: Gov.br

pharmaceutical markets  Brazil 

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