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

Cia. Energetica de Minas Gerais and its unit, Light SA, 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.