en.Wedoany.com Reported - Comerc is exiting two public lighting projects developed under the Public-Private Partnership (PPP) model by selling a 60% stake in Ilumina Itatiba and Ilumina Toledo, held by its subsidiary Nexway Comércio e Prestação de Serviços em Energia.

The buyers are Engeluz Iluminação e Eletricidade and Tecnoluz Eletricidade, both already part of the project's shareholder structure and affiliated with the Seven Lights group. The transaction has been approved by the Brazilian Administrative Council for Economic Defense (Cade) and was published in the official gazette on Wednesday (June 3). To date, the transaction amount has not been disclosed, nor has it been revealed whether approval from other authorities is required.

The buyers will pay in cash on the closing date, without prejudice to any subsequent settlement of remaining balances under the purchase agreement. Upon completion, Engeluz will hold all shares of Ilumina Itatiba; in Ilumina Toledo, Engeluz and Tecnoluz will each hold a 50% stake. At that point, the Comerc group will no longer hold any shares in these two concession companies.

The target companies were established to execute, operate, and maintain public lighting projects in the cities of Itatiba (São Paulo state) and Toledo (Paraná state), based on concession and PPP contracts signed with the respective municipal governments. Comerc stated that this divestment is part of a strategic move to exit the public lighting PPP market, allowing for a reallocation of efforts and resources to strengthen other business areas considered strategic priorities. For Engeluz and Tecnoluz, acquiring the shares represents an opportunity to expand their presence in the project companies and ensure operational continuity.

According to the Itatiba city government, Engeluz and Nexway won the administrative concession for the management, optimization, expansion, modernization, and maintenance of the city's public lighting system with a monthly base remuneration of R$ 278,045.74. The administrative concession contract No. 06/2021 was signed in September 2022, with an initial term of 240 months. In Toledo, the winning concessionaire consortium consisted of Engeluz, Nexway, and Tecnoluz, with a 13-year concession term and a contract value of R$ 47,281,416.00.

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