Cemig, Light to Confirm Belo Monte Stake Acquisition, Valor Says

Cia. Energetica de Minas Gerais and its unit, Light SA (LIGT3), will confirm today plans to acquire a 10 percent stake in Brazil’s Belo Monte dam project, Valor Economico reported, citing unidentified people involved in the transaction.

The utilities will have to invest about 3 billion reais ($1.7 billion) in the dam, the Sao Paulo-based newspaper said.

To contact the reporter on this story: Telma Marotto in Sao Paulo at tmarotto1@bloomberg.net

To contact the editor responsible for this story: Karen Eeuwens at keeuwens@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.