Investor Presentaiton
Details on the consideration transferred and the provisional amounts of
assets and liabilities recognized as a result of the acquisition are as follows:
641
194
835
Purchase consideration
Cash paid on acquisition of Balboa
Fixed price
Acquisition of CO2 emission rights (i)
Total purchase consideration
Recognized values of identifiable assets and liabilities assumed
Cash and cash equivalents
21
Accounts receivable
26
Inventories
75
Prepaid expenses and other assets
10
Deferred taxes
11
492
94
Property, plant and equipment
Intangible assets
Emission right of CO2
Right of use on lease agreements
Deferred taxes
Lease liabilities
Accounts payables and other liabiities
Net identifiable assets acquired
Goodwill
Total assets and liabilities
220
2
(146)
(3)
(108)
694
141
835
(i) As indicated in CPC 15 (R1) / IFRS 3 - Business Combination, the indirect subsidiary
has 12 months to fulfill the purchase price allocation (PPA) of the acquired assets and
liabilities and complete the initial accounting for the acquisition.
The goodwill arising from this business acquisition is essentially a technical
goodwill that results from the recognition of the deferred tax liability arising
from increases in the fair value of the net assets acquired.
(w) Conclusion of the Wind Farms acquisition process CBA
On August 30, 2021, the subsidiary CBA concluded the process of acqui-
sition of the wind energy self-production assets Ventos de Santo Anselmo
Energias Renováveis S.A. (Ventos de Santo Anselmo) and Ventos de Santo
Isidoro Energias Renováveis S.A (Ventos of Saint Isidore).
The wind farms are part of the Ventos do Piauí I and II complex, located
between the states of Pernambuco and Piauí, with 171.6 MW of installed.
capacity, equivalent to 74.4 average MW of assured energy.
The energy supply will be destined for the Itapissuma and Aluminum Plants,
which are expected to start in 2023. With the conclusion of the operation, the
subsidiary reinforces its investments in the diversification of the renewable
energy matrix. The total acquisition price by CBA is R$ 60, of which R$ 47 is a
direct purchase by subsidiary CBA, and R$ 13 is a purchase made by the indirect
subsidiary CBA Itapissuma Ltda, with annual installments to be paid between
2023 and 2027. These amounts were initially recognized at fair value and sub-
sequently measured at amortized cost using the effective interest rate method.
Additionally, the subsidiary CBA and VTRM signed an agreement for energy
supply by CBA for a period of 10 years, with an option to repurchase the
said assets at the end of the term of the supply agreement. The repurchase
option of the said assets, provided for in the contract, can be exercised
unilaterally by VTRM.
(x) New Revolving Credit Facility - VCSA
To replace the revolving credit facility (Global Revolving Credit Facility) con-
tracted in August 2018 in the amount of USD 500 million and maturing in
August 2023, in September 2021, the subsidiary VCSA and its subsidia-
ries contracted a new revolving credit line with a syndicate of banks in the
amount of USD 250 million maturing in September 2026, characterized as
Sustainability-Linked, in line with its long-term sustainability commitments.
The revolving credit facility is available for withdrawal at any time.
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