Tozzini, Freire, Teixeira e Silva Advogados advised CPFL Energia

Tozzini, Freire, Teixeira e Silva Advogados assisted CPFL Energia S.A. in a R$1.5 billion capital increase, with the issuance of 727,699,530 shares, and subscription of R$ 299,999,999.10 by BNDESPAR, as well as in preparing the company to meet the corporate requirements set forth by the Level 2 of Differentiated Corporate Governance Practice and the Regulations of the New Market of São Paulo Stock Exchange. The value of deal was R$1,549,999,998.90. The transaction was closed in October 28, 2003.

Several actions were required in order to have this deal implemented, since CPFL is a listed company and the controlling shareholder of several energy ones, while BNDESPAR is a national development bank. The capital increase, the subscription by BNDESPAR and the meeting of the requirements set forth by the Level 2 of Differentiated Corporate Governance Practice and the Regulations of the New Market of São Paulo Stock Exchange are part of a new scenario for the Brazilian energy market.

The lawyers from Tozzini working on the transaction were Eduardo Correa Fazoli ? partner in charge of the transaction, Patrícia de Andrade Vietri Gomes Thomazelli ? associate ? acted in corporate matters, Marcelo Trindade (partner in charge of the Publicly Held Companies area), and Pedro Testa (associate) - worked on the fulfillment of the requirements set forth by São Paulo Stock Exchange and the Brazilian Stock Exchange Commission.