July 27, 2017 3:38 PM ET

Electric Utilities

Company Overview of Companhia Energética de Minas Gerais

Company Overview

Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels. As of December 31, 2016, it operated hydroelectric plants, thermoelectric plants, and solar plants with a total installed capacity of approximately 8,000 megawatts in 10 states of Brazil. It is also involved in the telecommunications and energy solutions consulting businesses; exploitation of natural gas; sale and trading of electricity; and acquisition, transport, and distr...

Avenida Barbacena, 1200

Belo Horizonte, MG 30190-131

Brazil

Founded in 1952

7,102 Employees

Phone:

55 31 3506 3711

Key Executives for Companhia Energética de Minas Gerais

Companhia Energética de Minas Gerais does not have any Key Executives recorded.

Companhia Energética de Minas Gerais Key Developments

Brookfield, Renova Takeover Talks Reportedly To Cool Down

The takeover talks between Brookfield Asset Management Inc. (TSX:BAM.A) and Renova Energia S.A. (BOVESPA:RNEW11 reportedly to cool down due to reluctance of Renova Energia SA's largest shareholder to give up management, three people familiar with the matter said on July 13, 2017. Companhia Energética de Minas Gerais (BOVESPA:CMIG4) (Cemig) wants to be part of a Brookfield-led turnaround of Renova, two of the people said. Cemig owns 34.2% of Renova. Cemig plans to first sound out interest from Oaktree Capital Group, LLC (NYSE:OAK) and two other unidentified funds in Renova, two of the people said.

CEMIG Prioritizes Sale Of Light

Companhia Energética de Minas Gerais (BOVESPA:CMIG4) has once again revised its asset sale plan and decided to prioritize the sale of Light S.A. (BOVESPA:LIGT3), which is set to take place by November 2017. The sale of Taesa's shares, therefore, has been postponed to the end of 2017. Cemig argues that Light is a more relevant asset for the disinvestment plan. Cemig's 43% stake in Light could be worth BRL 2 billion. If this sale does not go ahead as Cemig is planning, the company could then use the sale of Taesa's shares to settle the dispute.

Companhia Energética de Minas Gerais - Special Call

To provide update on the disinvestment program

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 3, 2017
Unknown Stake in Transmineira Companies
Merger/Acquisition
November 30, 2016
5.62% stake in RME Rio Minas Energia Participações and 5.56% stake in Luce Empreendimentos
Merger/Acquisition
September 12, 2016
Transchile Charrua Transmision S.A.
 

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