Brazil’s Bordeaux pays US$ 4480m to Copel for the telco

Brazil’s Bordeaux pays US$ 4480m to Copel for the telco

Brazilian investment fund The Bordeaux Participações fund transferred BRL 2.5 billion (US$ 4480 million) in the account of the government of Parana and took the last step towards the purchase of Copel Telecom.

Last month, Brazil’s antitrust regulator CADE gave its unconditional approval for the acquisition of Copel Telecom. The payment concludes the sale of Copel Telecomunicações, which was auctioned on November 9, 2020.

According to the local media, the amount agreed at the time was BRL 2.395 billion, or a premium of 70.94% concerning the minimum auction price (BRL 1.401 billion). The transaction value (updated by the Selic rate) totaled the BRL 2.506 billion transferred to Copel.

Incidentally, the fund also bought Sercomtel, also established in the Paraná market and which also had Copel as a partner.

Copel Telecom has a backbone of 34.2 thousand km in 399 municipalities in Paraná, in addition to its customer base. The operation's towers and data centers are not involved in the transaction and remain under the control of the state-owned energy company Copel.