Article: Power companies owe US$1.4bil.

Brazil, Jul 2, 2003 (Gazeta Mercantil/SABI via COMTEX)

The power distribution companies of the Brazilian Southeast region and their shareholders did not pay off debts of US$1.4bil with private banks and with the Brazilian development bank BNDES (Banco Nacional de Desenvolvimento Economico e Social). The power distributor Light (controlled by the French group EDF) did not pay off US$25mil to private banks with which it is trying to reschedule the debts. The company debts totals R$400mil. The US AES, which controls Eletropaulo, owes US$1.13bil to BNDES through two holdings. The private shareholders of Cemig - AES, Mirant and Opportunity - did not pay off US$87mil to ...

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