Brazil electricity distributor Light scraps share offer plan - filing [Reuters]
Comp En De Mn Cemig ADS American Depositary Receipts (CIG.C)
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Source: Reuters
Brazil electricity distributor Light scraps share offer plan - filing | Reuters 1 Min Read RIO DE JANEIRO, Nov 27 (Reuters) - Brazil’s Light has dropped a plan for a share offering after its controlling shareholders blocked the move due to market conditions, the electricity distributor said on Tuesday. The company, controlled by Brazil’s state-run utility Companhia Energética de Minas Gerais (Cemig), said in August it was considering a share offer and said it had a preliminary agreement with the Brazilian private equity firm GP Investments Ltd to buy part of its shares. The share offer was ruled out by the firm’s main shareholders at a meeting on Nov. 26. “Light will continue to monitor market opportunities to optimize its capital structure,” the company said. (Reporting by Alexandra Alper Editing by Edmund Blair) All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2018 Reuters. All Rights Reserved. Brazil electricity distributo
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