January 16, 2017 12:24 PM ET

Gas Utilities

Company Overview of Companhia de Gás de Minas Gerais S.A. - GASMIG

Company Overview

Companhia de Gás de Minas Gerais S.A. - GASMIG distributes natural gas in the state of Minas Gerais. It also operates a virtual pipeline distribution system that provides liquefied and compressed natural gas to clients that are not located around the physical distribution network. The company serves approximately 1,000 customers, including 104 industrial facilities and 80 natural gas vehicle fueling stations. Its customers include mining, steel, metallurgy, lime, automotive, pulp and paper, food, and thermal electricity industries, as well as commercial and residential segments. Companhia de Gás de Minas Gerais S.A. - GASMIG was founded in 1986 and is headquartered in Belo Horizonte, Brazil....

Amadeus Business Tower

Avenida do Contorno

6594 / 10º andar


Belo Horizonte, MG 30110-044


Founded in 1986


55 31 3265 1000


55 31 3265 1100

Key Executives for Companhia de Gás de Minas Gerais S.A. - GASMIG

Business Manager
Compensation as of Fiscal Year 2016.

Companhia de Gás de Minas Gerais S.A. - GASMIG Key Developments

Cemig Mulls Selling Gasmig

Companhia Energética de Minas Gerais S.A. (BOVESPA:CMIG4) is considering selling its gas distribution subsidiary Companhia de Gás de Minas Gerais S.A. - GASMIG. Eduardo Andrade, President of Gasmig, has said that several foreign investors could be interested in the asset, but he has not confirmed any concrete plans. Cemig has 99.57% of shares in Gasmig. The remaining 0.43% belongs to the municipal government of Belo Horizonte. Cemig expects to raise BRL 1.7 billion ($517 million) from the sale of the Gasmig unit, the sources said. According to the three sources, Cemig also gave a mandate to Banco do Brasil SA (BBAS3.SA) and Grupo BTG Pactual SA (BBTG11.SA) to organize the sale of some of the power utility's 24 small hydropower plants, known in Brazil as PCHs, located in the state of Minas Gerais. Cemig and the banks Itaú BBA, Banco do Brasil and BTG Pactual declined to comment.

Gasmig Announces Earnings Results for the Six Months Ended June 30, 2015

Gasmig announced earnings results for the six months ended June 30, 2015. For the six months, net operational revenue was BRL 681,325,000. Profit before income tax and social contribution tax was BRL 91,905,000. Net income was BRL 64,381,000.

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