November 13, 2017 / 12:10 PM / a year ago

BUZZ-Brazil's Cemig: gets non-binding offers for Light stake

** Brazilian state-run utility Companhia Energética de Minas Gerais has received non-binding proposals for its stake in Rio de Janeiro power utility Light SA, it said in a statement on Monday

** On Saturday, Renova Energy SA, a renewable power company controlled by Light and Cemig, as the company is known, said it had received a binding offer from Canada’s Brookfield Asset Management Inc

** The offers announced on Monday resulted from the first phase of a sale process in which possible buyers were given privileged access to company documents and information

** Cemig said in July that it aimed to raise about 8 billion reais ($2.4 billion) by selling assets in order to pay down debt

** Preferred shares of Cemig were flat in early Monday trading at 6.76 reais per share

$1 = 3.28 reais

0 : 0
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