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Brazil's Cemig sees asset sales needed to ease debt repayment burden
April 12, 2017 / 6:25 PM / 5 months ago

Brazil's Cemig sees asset sales needed to ease debt repayment burden

SAO PAULO, April 12 (Reuters) - Brazilian power utility Cia Energetica de Minas Gerais SA will step up efforts to renegotiate existing debt and sell assets as a way to delay 4.837 billion reais ($1.5 billion) worth of debt maturities by the end of this year, executives said on Wednesday.

Cemig, as the utility is known, is also considering existing options in capital markets to reduce a 52 percent stake in Light Energia SA, said Chief Financial Officer Adezio Lima, without elaborating. Lima spoke on a conference call to discuss fourth-quarter financial results.

$1 = 3.1525 reais Reporting by Luciano Costa; Writing by Guillermo Parra-Bernal; Editing by Andrew Hay

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