BRASILIA, April 17 (Reuters) - Investment fund Coliseu has reached a preliminary agreement to sell its stake in Brazilian transmission utility Taesa to Colombia’s Empresas Publicas de Medellin (EPM)for 1.527 billion reais ($502.40 million), both companies said on Friday.
Coliseu is one of the controlling shareholders of Taesa, known formally as Transmissora Aliança de Energia Elétrica SA , with a stake of 22.14 percent. The other controlling shareholder is Brazilian power holding company Cia Energética de Minas Gerais SA, or Cemig, which owns 43 percent of the company.
Cemig’s new chief executive, Mauro Borges, said on Jan. 27 that the company has no plans to alter its participation in Taesa and its other utility subsidiary Light.
Taesa and EPM said in a statement the sale will depend on “a series of conditions, and there are no guarantees or certainty that the operation will be concluded.”
Those conditions were not detailed in the communique. ($1 = 3.0394 Brazilian reais) (Reporting by Alberto Alerigi and Alonso Soto; Editing by Ken Wills)