Brazil's Intelbras gets local solar PV equipment manufacturer Renovigi

• Brazil's Intelbras SA (BVMF: INTB3), a company concentrated on services in security, networks, communication and energy, has wrapped up the purchase of a 100% equity risk in regional photovoltaic (PV) equipment producer Renovigi Energia Solar SA.

The closing of the deal was made public on Friday by Intelbras after the company received authorization from its shareholders and the Brazilian antitrust regulator CADE.

According to the preliminary procurement announcement, the purchase is valued at BRL 334.33 million (USD 68.3 m/EUR 64.8 m) in overall.

The marketing shareholders were Fluxo Solar Participacoes Ltda, CT Akimoto Participacoes Societarias Ltda, Grafeno Participacoes Societarias Ltda, Marzari Solar Participacoes Societarias Ltda, Akimoto Participacoes Societarias Ltda, C14 Participacoes Societarias Ltda and also DD Participacoes Societarias Ltda.

Renovigi is a mid-sized company devoted to producing solar kits, panels, inverters and relevant equipment.

With this transaction, Intelbras can diversify its product portfolio along with broaden its associates' network as well as sales channels, thus reinforcing its solar company, the new owner included.