Brazil's Cemig to divest non-core activities to cut debt

miércoles 30 de marzo de 2016 11:38 GYT
 

SAO PAULO, March 30 (Reuters) - Brazil's electricity firm Companhia Energética de Minas Gerais plans to divest some non-core activities to reduce its debt and free up money for investments, the company's Chief Executive Mauro Borges said on a conference call on Wednesday.

Cemig needs to pay 2.2 billion reais ($610 million) to the government this year after buying concession rights for 18 hydroelectric dams late in 2015. (Reporting by Luciano Costa; Writing by Marcelo Teixeira; Editing by Chizu Nomiyama)