By Brazil Stock Guide – J&F Investimentos, the holding controlled by brothers Wesley and Joesley Batista, has signed an agreement to acquire Roraima Energia from Oliveira Energia. The transaction also covers four thermal power plants located in Boa Vista: Distrito, Floresta, Monte Cristo Sucuba and Monte Cristo.
The announcement was reported by Agência iNFRA, which noted that the deal is already under review by Brazil’s antitrust regulator, Cade. On Thursday (2), the watchdog opened a formal concentration act to analyze the impact of the acquisition.
Strategic expansion in energy
In documents submitted to Cade, the companies said the operation “represents a good opportunity for the expansion of J&F’s activities in the electricity sector” and is consistent with Oliveira Energia’s “divestment plans.”
J&F, better known for its meatpacking giant JBS (JBSS3.SA, OTCMKTS:JBSAY), has been diversifying its business portfolio with strong moves in energy and pulp production. The Roraima Energia deal underscores this broader growth strategy.
Previous acquisitions
This marks the second distribution company acquired by J&F from Oliveira Energia. The first was Amazonas Energia, a process that only concluded after an extensive legal dispute.