Cescon Barrieu advises on Ilumina stake sale

Cescon Barrieu has advised Nexway Comércio e Prestação de Serviços em Energia (a subsidiary of Comerc Energia) on the sell-side of a transaction involving the disposal of a 60% stake in two special purpose vehicles dedicated to public lighting services in the Brazilian municipalities of Itatiba (São Paulo) and Toledo (Paraná).

The transaction involved the acquisition by Engeluz Iluminação e Eletricidade and Tecnoluz Eletricidade of the entirety of Nexway’s shareholding in Ilumina Itatiba and Ilumina Toledo SPE, each representing 60% of the respective companies’ share capital. The buyers already held the remaining 40% in each entity, meaning that upon closing they will own 100% of both SPVs. The deal, valued at over R$5 million, is governed by Brazilian law.

Both SPVs were established exclusively to provide public lighting services under public-private partnership (PPP) agreements executed with their respective municipalities, making the transaction structurally relevant to the ongoing development and modernisation of urban infrastructure in Brazil.

Cescon Barrieu relied on partners Manoela Darcy de Oliveira Miranda and Joyce Honda, supported by associates Arthur Moreira, Nicholas Ciglioni, and Italo Dantas.

The buyers were represented by Romeu Amaral Advogados.