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Brazil’s CPFL Energia offers to buy Chinese stake in renewables unit
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Brazil’s CPFL Energia offers to buy Chinese stake in renewables unit

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Brazil’s CPFL Energia offers to buy Chinese stake in renewables unit
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Brazil’s CPFL Energia offers to buy Chinese stake in renewables unit

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SAO PAULO: Brazilian electric utility CPFL Energia SA announced on Tuesday a memorandum of understanding with its parent company, China’s State Grid, for the potential acquisition of State Grid’s stake in its renewables arm CPFL Renovaveis.

In a statement, CPFL Energia said the price of the offer will be negotiated but noted that State Grid has already said it will sell at 16.85 reais per share.

Source: reuters

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Anand Gupta Editor - EQ Int'l Media Network
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