CERJComunidades Etnicas Runujel Junam (Spanish: Runujel Junam Council of Ethnic Communities; human rights education; Guatemala)
CERJCampaign for Equity-Restorative Justice (Vermont)
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current shareholding of Endesa and its affiliates in CERJ.
will enable CERJ to continue to go forward with its investment
the affiliate which groups Endesa's (NYSE:ELE) international holdings, has successfully completed today the tender offer for 100% of CERJ, which was announced last 31st of May.
CERJ, in turn will benefit from the Endesa Group's technical and financial capabilities, permitting CERJ to proceed with its investment plan geared towards the improvement in its service and quality levels.
CERJ is the second-largest electric distribution company in the state of Rio de Janeiro, Brazil.
The transaction, which will have an immediate positive impact on Endesa's earnings per share, also aims to increase and consolidate the current shareholding of Endesa and its affiliates in CERJ, which will benefit from the Group's technical and financial capabilities, therefore allowing the progress in the investment pan geared towards the improvement in its service and quality levels.
92%, respectively, and CERJ, with the balance of 36.
The group has a presence in Chile, through its participation in Enersis; in Argentina, with generating company Dock-Sud, distribution company Edenor, and high voltage transmission line operator Yacilec; in Peru, with generators Etevensa and Piura, and distributor Edelnor; in Colombia, with generator Emgesa and distributor Codensa; in Venezuela, with a participation in Elecar, a distributing company for Caracas and surrounding areas; in Brazil and the Dominican Republic, with two distribution companies, CERJ and CEPM, respectively; and finally, in the Central American countries, through its participation in the SIEPAC project.
Finally, current Brazilian capital markets do not allow CERJ to cost-effectively lengthen the tenor of its debt profile.
The otherwise fixed seven-year tariff will allow CERJ to retain all the benefits stemming from improved operations (generally due to a containment of energy losses) during this initial tariff period.
CERJ's current financial profile has begun to improve as management has restored CERJ to profitability within slightly more than a year of assuming management.
The outlook is also premised on CERJ management's ability to rationalize costs and improve operating efficiency at a somewhat faster rate than the Chilectra-led turnaround of Edelnor-Peru.