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Eletrobras unit sells stake in transmission company for $140 million – Metro US

Eletrobras unit sells stake in transmission company for $140 million

FILE PHOTO: The logo for Eletrobras, a Brazilian electric utilities
FILE PHOTO: The logo for Eletrobras, a Brazilian electric utilities company, is displayed on a screen on the floor at the NYSE in New York

BRASILIA (Reuters) – Brazilian state-run power company Centrais Eletricas Brasileiras SA, Latin America’s largest utility, said on Thursday that its Eletronorte unit received 740.4 million reais ($140 million) for a tag-along sale of shares in Norte Brasil Transmissora de Energia SA (NBTE).

The shares were sold to aLeovac Participações S.A.-Leovac, owned by the Ontario Teachers’ Pension Plan Board. Leovac had earlier acquired 100% ownership of Evoltz Participações S/A, which held a 51% stake in transmission company NBTE, it said in a securities filing. ($1 = 5.3034 reais)

(Reporting by Anthony Boadle; Editing by Leslie Adler)

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