November 28, 2018
Brazil's Light has called off plans to sell shares after the power company's controlling shareholders balked at the move in current market conditions.
Light said in August that it could raise funds by selling shares to a group of investors led by the local private equity firm GP Investments. It also said in October that it was considering a BRL2bn ($514m) follow-on offering that could remove the Minas Gerais state power company Cemig as the single largest shareholder.
But the controlling shareho
Power company's controlling shareholders block a deal with GP Investments due to choppy market conditions