Eletrobras unit sells stake in transmission company for $140 million

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(C) Reuters. FILE PHOTO: The logo for Eletrobras, a Brazilian electric utilities company, is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 9, 2019. REUTERS/Brendan McDermid/File Photo

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

Eletrobras unit sells stake in transmission company for $140 million

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