Calyon advised Areva T&D, Areva's transmission and distribution arm, in the acquisition of Brazilian company Waltec Equipamentos Eletricos (WEE).

This small, family-run enterprise is based in the state of Santa Catarina, where it produces equipment for power networks. Its earnings have increased by over 15% in the last three years, boosted by the renewal of existing networks and demand from 'electro-intensive' groups such as Petrobas, the Brazilian oil company.

The deal was closed on September 30, thanks in particular to the excellent teamwork of the CIB units in Brazil and Paris.