CPL
CPFL Energia S.A.NYSE
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  • Wed, Aug. 10, 10:25 AM
    • China's State Grid, the world’s largest electricity provider by revenue, is pursuing a takeover of CPFL Energia (CPL +1.2%) in a deal valued at $13B that could be China’s biggest investment in the Brazil, Dow Jones reports.
    • State Grid is courting large shareholders such as Previ, Latin America’s largest pension fund and owner of a 29% stake in CPFL, and expects to secure stakes this month before making a full offer to the other shareholders, according to the report.
    • A deal would bring a fresh dose of foreign capital to Brazil, which is suffering through one of the country's worst-ever recessions.
    | Wed, Aug. 10, 10:25 AM | 3 Comments
  • Fri, Feb. 5, 9:43 AM
    • U.S. power utility AES Corp. (AES -0.9%) as well as Brazilian rivals CPFL Energia (CPL -0.8%) and Equatorial Energia are among groups showing preliminary interest in buying state-controlled power distributor Centrais Elétricas de Goiás, Reuters reports.
    • The plan comes as Centrais Elétricas Brasileiras (EBR -0.6%), Brazil's largest power holding company, is considering selling stakes in several distribution companies; the move underscores Pres. Rousseff's efforts to streamline the size of state companies, whose rapid growth has put public finances under pressure.
    | Fri, Feb. 5, 9:43 AM | 1 Comment