Cemig increases stake in Santo Antonio parent

Cemig increases stake in Santo Antonio parent

M&A

Cemig has agreed to pay BRL835m ($357m) for an 83% stake in an investment firm that owns 12.4% of Santo Antonio Energia’s parent Madeira Energia. The Minas Gerais state-owned power firm already holds 10% of Madeira through its Cemig Geracao e Transmissao unit. Madeira owns 100% of Santo Antonio Energia, which is Brazil’s fourth-largest energy producer. Cemig is buying the new stake in investment firm SAAG from Andrade Gutierrez Participacoes. In a regulatory filing, Cemig said the deal would be

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