German Uniper Sells Last Stake in Brazil

German utility Uniper has quit Brazil, with the sale of its remaining 6% stake in Eneva by way of a secondary placement by several shareholders in Eneva. Uniper expects to receive about €75mn ($84mn) equivalent. The settlement of the secondary placement is expected to take place on April 10, 2019. As a result of this divestment, Uniper has no further business operations in Brazil, it said April 5.

Eneva is a Brazil-based integrated energy company active in gas production and power generation.

Uniper CFO Christopher Delbruck said: “In line with our corporate strategy, we consider non-strategic shareholdings for asset rotation. The sale of our Eneva stake is an example of how we’re systematically implementing this strategy.”