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CPPIB and Votorantim buy Sao Paulo state power company Cesp

 


 


 

By Reuters

SAO PAULO
Petroleumworld 10 22 2018

A consortium formed by Canadian pension fund CPPIB and Brazil's Votorantim Energia won a privatization auction on Friday to buy a controlling stake in power company Cesp from the government of Sao Paulo state.

The consortium, called Sao Paulo Energia, will pay 14.6 reais per Cesp share, a 2.09 percent premium over the minimum sale price at the auction. Shares of Cesp jumped more than 12 percent after the auction to 17.07 reais each.

 

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Reporting José Roberto Gomes Writing by Marcelo Teixeira; Editing by Bernadette Baum from Reuters.

reuters.com 10 19 2018


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