UPDATE 1-Brazil's Santo Antonio power plant partners looking to sell stakes

lunes 20 de junio de 2016 18:12 GYT

(Adds comments from partners, project information, context)

SAO PAULO, June 20 (Reuters) - Brazil's Santo Antônio Energia SA, one of the five largest hydroelectric projects in the country, said on Monday it has been informed by some of its shareholders of plans to sell their stakes in the dam, according to a securities filing.

Santo Antônio is among the power plants being built in the Amazon region, along with Jirau and Belo Monte, in a drive by Brazil to secure future energy supply.

It will have a total generation capacity of 3,568 megawatts (MW) when fully operational next year. Total investment is projected at 17.5 billion reais ($5.14 billion).

"The management was informed by some shareholders of their intention to sell their stakes," said Luiz Pereira de Araújo Filho, Santo Antonio's investor relations director.

"This issue is being handled directly by shareholders and not by the company's management," he said.

The announcement comes after a report last week by local paper Valor Economico that stakeholders such as engineering groups Odebrecht SA and Andrade Gutierrez were in talks to sell their stakes.

The paper cited Chinese energy companies State Grid Corp and Three Gorges as possible buyers and said the deal could fetch as much as 9 billion reais for a controlling stake.

Santo Antonio said in the securities filing that it has no knowledge of the possible sale price if a deal is reached.   Continuación...