July 6, 2016 / 4:11 PM / 2 years ago

China's State Grid has $6 bln to buy CPFL minority stakes -sources

BRASILIA, July 6 (Reuters) - China’s State Grid International Development Ltd has told Brazilian officials it has 20 billion reais ($6.02 billion) available to extend the same terms of a buyout offer to minority shareholders of CPFL Energia SA, two government sources told Reuters on Wednesday.

State Grid, the world’s largest utility, has the money to grant the same price it offered to Camargo Correa SA, the largest holder in CPFL and which last week agreed to sell its stake for 5.85 billion reais ($1.76 billion), said the sources, who requested anonymity because they were not allowed to speak publicly. ($1 = 3.3215 Brazilian reais) (Reporting by Leonardo Goy and Alonso Soto; Editing by Chizu Nomiyama)

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