SAO PAULO, Aug. 25, 2015 /PRNewswire/ -- Triunfo Participacoes e Investimentos S.A. ("Company") (BM&FBOVESPA: TPIS3), one of the Brazilian companies most active in the infrastructure sector, announces to shareholders and the general market that, on August 24, 2015, it entered into a Stock Purchase and Sale Agreement with China Three Gorges Brasil Energia Ltda. ("CTG Brasil"), establishing on a binding basis the divestment of the interests that the Company holds in its subsidiaries in the energy segment, namely Rio Verde Energia S.A., Rio Canoas Energia S.A., and TNE – Triunfo Negocios de Energia ("TNE").
The amount to be paid by CTG Brasil in accordance with the Stock Purchase and Sale Agreement for all shares held by the Company in the three subsidiaries is: i) R$970 million subject to usual adjustments on this type of operation, ii) the assumption of the short- and long-term gross debt of the three subsidiaries, which on December 31, 2014 amounted to R$770.4 million; and iii) the potential payment of R$148.5 million, contingent upon the achievement of certain events.
The transaction to divest the assets Rio Verde, Rio Canoas and TNE is connected with the commitment of the Company to improve its capital structure and position it for a new growth cycle.
Conference Call about the Material Fact of the Divestment of Assets
In Portuguese with simultaneous translation into English
August 26th, 2015 - Thursday
Time: 09:00 a.m. (US ET) / 10:00 a.m. (Brasilia)
Connection Number Other Countries: +1 (786) 924-6977
Connection Number Brazil: +55 (11) 3193-1001 / + 55 (11) 2820-4001
Replay: available until September 01, 2015
Connection Number : +55 (11) 3193-1012 / +55 (11) 2820-4012
Portuguese Code: 2148152#
English Code: 9842997#
SOURCE Triunfo Participacoes e Investimentos S.A.