October 28, 2016 / 1:27 PM / 2 years ago

Brazil sets Nov. 30 as date for sale of power distributor Celg-D

SAO PAULO, Oct 28 (Reuters) - The Brazilian government has set Nov. 30 as the date for the auction to sell state-controlled Centrais Elétricas de Goiás SA, the state-controlled bank in charge of the process said on Friday.

According to state development bank BNDES, which is overseeing the process, potential bidders must present the necessary requirements by Nov. 25. Brazil’s Mines and Energy Ministry said on Aug. 16 that some of the companies that had shown preliminary interest in the company known as Celg-D failed to deliver the financial guarantees needed to participate in the auction.

The sale, which was scheduled for Friday, was expected to raise at least 2.8 billion reais ($881 million).

$1 = 3.1779 reais Reporting by Luciano Costa de Paula; Writing by Guillermo Parra-Bernal; Editing by Meredith Mazzilli

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