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17 Mar

Gerdau completes renewable electricity provider stake acquisition

Gerdau subsidiary Gerdau Next has completed the acquisition of a 33.33% shareholding in renewable electricity provider Newave Energia, Kallanish notes. According to the deal, signed last November, the steelmaker and its subsidiaries will purchase 30% of the energy generated by the power generation projects held directly or indirectly by Newave (see Kallanish passim). Investors NW Capital retain a 66.67% in Newave. In this first phase of the transaction, Gerdau Ne…
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