November 22, 2017 / 10:04 PM / 2 years ago

Cemig hires broker to sell $218 mln worth of units in Taesa

SAO PAULO, Nov 22 (Reuters) - Brazil’s electric utility Companhia Energética de Minas Gerais said on Wednesday it hired broker Itaú Corretora de Valores to sell 34 million units issued by power transmission company Transmissora Aliança de Energia Elétrica SA (Taesa), according to a securities filing.

Cemig said the auction of the units of Taesa, as the company is known, would take place next Friday at the São Paulo Stock Exchange. The units being sold are not part of the Taesa’s shareholders’ agreement, it added.

Based on the closing price of Taesa’s units, the sale would be worth 702.1 million reais ($218 million). ($1 = 3.2242 reais) (Reporting by Ana Mano; Editing by Richard Chang)

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