Brazil's Eletrobras sees receiving $556 million from AES's Eletropaulo
RIO DE JANEIRO, Sept 18 (Reuters) - Brazil's state-led electricity utility holding company Centrais Eletricas Brasileiras SA said on Friday it expects to receive 2.23 billion reais ($566 million) from Eletropaulo Metropolitana SA for a 29-year-old debt.
The amount requested by Eletrobras, as the Brazilian state utility is known, is nearly a third greater than the 1.7 billion reais that Eletropaulo, controlled by U.S.-based AES Corp said it was being asked to pay by a court-appointed consultant on Thursday.
Eletrobras said its estimate of the debt was also based on the consultant's report. The 2.23 billion debt, Eletrobras said, does not include 348 million reais in court and lawyers fees it also says it is owed by Eletropaulo.
The debt was contracted by Eletropaulo in 1986, more than a decade before AES bought control of the company from the government of Sao Paulo state. Eletrobras has been trying to collect the debt since 1989.
Eletropaulo, which had its transmission unit split from it before being sold by Sao Paulo, has long held that it is not responsible for the debt and has been fighting Eletrobras attempts to collect in a Rio de Janeiro court.
Eletropaulo officials were not immediately available for comment.
($1 = 3.94 Brazilian reais) (Reporting by Jeb Blount; Editing by Alan Crosby)
© Thomson Reuters 2017 All rights reserved.