In exchange DESA will hold a 12.63% stakein CPFL Renováveis through FIP Arrow, an equity fund through which the Weegefamily also controls DESA. Under the agreement, FIP Arrow will have the rightto elect a member of the CPFL Renováveis' board.
CPFL Renováveis will also assume DESA'sR$200m ($83.5m) debt, the companies said. Conclusion of the agreement will occurafter auditing and authorisation from Brazil's electric regulator Aneel.
This
