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Deutsche Bank Appointed As Successor Depositary Bank for the American Depositary Receipt Program of CPFL Energia S.A.
Wednesday, October 28, 2009 10:51 AM


(Source: Business Wire)trackingDeutsche Bank today announced its appointment as successor depositary bank for the New York Stock Exchange (NYSE)-listed American Depositary Receipt (ADR) program of CPFL Energia S.A. (CPFL Energia).

CPFL Energia is the largest private company in the Brazilian electricity sector based on market share with over 90 years of operating history. Through its subsidiaries, it distributes, generates and commercializes electricity in Brazil.

CPFL Energia is a market leader in Brazil in both electricity distribution and commercialization, with market shares of 13% and 22%, respectively. During the year ending December 31, 2008, CPFL Energia's sales in its distribution companies' concession areas reached 49,033 GWh. CPFL Energia distributes energy to 6.5 million customers, located mainly in economic and industrial centers in Brazil, in upstate São Paulo and Rio Grande do Sul, as well as in some municipalities in the states of Paraná and Minas Gerais. The sales in the electricity commercialization segment reached 8,904 GWh.

CPFL Energia holds a 2% market share in Brazilian electricity generation. CPFL Energia has an installed capacity to generate 1,737 MW of electricity, which it expects will reach 2,202 MW in year 2010, following the completion of two electricity generation projects that are under construction: the Foz do Chapecó hydroelectric generation facility and the Baldin thermoelectric power plant (a biomass generation project).

CPFL Energia's ADRs currently trade on the NYSE under the symbol CPL. The company's ordinary shares are listed on the São Paulo Stock Exchange (BM&FBOVESPA) under the symbol CPFE3. Each ADR represents three ordinary shares.

"We are pleased with the appointment of Deutsche Bank as our new ADR depositary and are looking forward to working with the global team to continue to enhance our relationship with investors", said José Antonio de Almeida Filippo, Chief Financial and Investor Relations Officer at CPFL Energia.

Akbar Poonawala, Head of Global Equity Services at Deutsche Bank said, "We are delighted to be appointed as depositary bank for CPFL Energia's NYSE-listed ADR program. We very much look forward to working with CPFL Energia to ensure that their ADR holders receive the highest level of specialized service.



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