January 24, 2017 / 12:52 PM / a year ago

CEO of Brazil's CPFL says Chinese investment to boost expansion

SAO PAULO, Jan 24 (Reuters) - Brazil’s CPFL Energia, the country’s largest private power company, eyes acquisitions in power generation and distribution as State Grid’s investment in the firm boosts growth plans, CPFL’s Chief Executive Officer André Dorf said on Tuesday.

China’s State Grid Corp closed on Monday the acquisition of a controlling stake in CPFL Energia SA and its subsidiary CPFL Energias Renováveis SA for 17.36 billion reais ($5.49 billion).

Reporting by Luciano Costa; Writing by Marcelo Teixeira; Editing by Chizu Nomiyama

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