OREANDA-NEWS. ENEVA announces that the BRL 250 million capital increase of its afilliated company Parnaiba Gas Natural (PGN) was concluded February 19.

The transaction represents the first step of the agreement between ENEVA, Cambuhy, E.ON and OGpar - Em Recuperacao Judicial. The agreements foresee that Cambuhy and E.ON recapitalize PGN through a capital increase in the first step. The capital increase has been fully subscribed and paid in by Cambuhy Investimentos and E.ON, as announced in October 2013.

As a result of the completion of the capital increase, the company's corporate structure is currently as follows: Cambuhy holds approximately 36.36%; OGX Petroleo e Gas S.A. 36.36%; ENEVA 18.18%; and E.ON 9.09% of the total common shares outstanding of PGN.

The capital increase will contribute to PGN's operations and exploration projects, and thereby guaranteeing continued supply of natural gas to ENEVA's power plants in the Parnaiba Complex.

The Company also informs that the acquisition by Cambuhy of the remaining equity interest held by OGX in PGN remains subject to certain terms and conditions, including, but not limited to, the prior approval by OGpar's creditors, under its judicial recovery procedure (recuperacao judicial), and the authorization of the Brazilian Petroleum, Natural Gas and Biofuel Agency (ANP).