CPFL Renewables Pulls IPO Plug

CPFL Renewables Pulls IPO Plug

Brazil Equity

Brazil’s CPFL has officially cancelled registration for the IPO of its CPFL Energias Renovaveis unit, it says, confirming what the markets had long expected. It had planned to raise around BRL1bn ($495m) through the offer of primary shares, as well as secondary shares owned by several investment funds, including those linked to Patria Investimentos and Bradesco. The generator was looking to raise funds for projects. Bank of America Merrill Lynch and Itau were global coordinators, with Morgan Sta

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