Brazil plan to sell Celg-D stake lures one bidder: source

November 25, 2016 3:51 PM EST

Get access to the best calls on Wall Street with's Ratings Insider Elite. Get your Free Trial here.

SAO PAULO (Reuters) - The Brazilian government's effort to sell a stake in state-controlled Centrais Elétricas de Goiás SA attracted just a single unnamed bidder, a source with direct knowledge of the process told Reuters on Friday.

The deadline to formally enter the auction process to buy the stake that state-controlled Centrais Elétricas Brasileiras SA has in Celg-D ended at noon on Friday, said the person, who is not authorized to speak about the issue publicly. The minimum price set by the government is 1.79 billion reais ($524 million).

(Reporting by Luciano Costa; Writing by Marcelo Teixeira and Guillermo Parra-Bernal; Editing by Marguerita Choy)

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories


Add Your Comment