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Brazil's Cemig plans gas distribution IPO, Alianca stake sale


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SAO PAULO Brazilian power utility Cemig is planning an initial public offering of its gas distribution unit and a wave of divestments, executives said on Wednesday, and the company’s shares rose over 4% after the news.
During an online investors’ event, executives said they planned to sell off some 9 billion reais ($1.66 billion) in assets through 2025, including the company’s stake in the massive Belo Monte and Santo Antonio hydroelectric dams.
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Brazil s Cemig plans gas distribution IPO, Alianca stake sale Back to video
As part of that divestment drive, the company, formally Cia Energetica de Minas Gerais SA, also plans to sell its stake in Alianca Energia, a joint power generation venture with Brazilian mining company Vale SA, the executives said. ....

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Brazil passes natural gas law to attract investors, cut red tape


By Reuters Staff
1 Min Read
FILE PHOTO: Aerial view of state oil company Petrobras Urucu oil and natural gas plant in Brazil s Amazon jungle, December 6, 2004. REUTERS/Jamil Bittar
SAO PAULO (Reuters) - Brazil’s lower house approved a new regulatory framework for the natural gas sector in the early hours of Wednesday, a move the government hopes will increase competition in the industry.
The bill, which garnered support from industrial consumers, will now be signed into law by President Jair Bolsonaro.
“In this difficult moment, this approval bodes well for the economy,” said Paulo Pedrosa, president of Abrace, an industry group of large energy users. ....

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