January 8, 2021
Minas Gerais state power company Cemig plans to sell its stake in utility company Light in a share sale on the B3 stock exchange in São Paulo, according to a securities filing.
Cemig will sell 68.6 million shares in the offering, equal to its 22.6% stake in Rio de Janeiro-based Light, while Light itself will issue another 68.6 million new shares. The deal is expected to price on January 19, Light said in the filing.
Light will first offer the shares to existing shareholders from January 11 to Ja
Minas Gerais state power company could earn close to $300 mln for its 23% stake in the Rio de Janeiro-based utility