Brazil plans sale of Amapá power company

Brazil plans sale of Amapá power company

Corporate & Sovereign Strategy Economy & Policy Debt Equity M&A Latin America South America Brazil Project & Infrastructure Finance Energy Electricity Structured Finance Politics

Brazil's mining and energy ministry MME has approved the conditions for the sale of the Amapá's state energy company Companhia de Eletricidade do Amapá (CEA) under an ongoing privatization program. The Amapá state government will have the option to auction up to 99% of its stake in the heavily indebted state-controlled energy company for BRL49,932 ($8,802), according to a notice published by the MME in the government's official gazette on Wednesday. CEA has BRL1.12 billion in assets and BRL2.3 b

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