December 28, 2016 / 11:46 AM / 2 years ago

Colombian group buys stake in Brazil power company Taesa for 1 bln reais

SAO PAULO, Dec 28 (Reuters) - Two of three shareholders sharing control of Transmissora Aliança de Energia Elétrica SA have agreed to sell their stake in the Brazilian power transmission company to Colombia’s Interconexión Eléctrica SA for 1.06 billion reais ($324.3 million).

The shareholders, Fundo de Investimento em Participações Coliseu and Fundo de Investimento em Ações Taurus, have sold 26.03 percent of Taesa’s voting capital, or 14.88 percent of its outstanding shares, according to a securities filing on Wednesday.

Before the transaction, FIP Coliseu, FIP Taurus and Cia Energética de Minas Gerais SA together held 68.76 percent of Taesa’s voting capital.

Under the terms of the deal, Interconexión Eléctrica will acquire all of FIP Coliseu’s and FIP Taurus’ stakes, equivalent to 41.6 percent of Taesa’s controlling block, the filing said.

Cemig, as Brazil’s third biggest power utility is known, has been selling Taesa shares throughout the second half of the year to raise cash and cut debt.

The deal, signed on Tuesday, is subject to approval by antitrust watchdog Cade and power regulator Aneel.

$1 = 3.2689 reais Reporting by Ana Mano. Editing by Jane Merriman

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