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Article: AES and BNDES Reach Preliminary Agreement to Repay Brasiliana's Debt.
- Article from:
- Business Wire
- Article date:
- May 31, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ARLINGTON, Va. -- The AES Corporation (NYSE:AES) today announced that AES Transgas Empreendimentos S.A. (Transgas), a wholly-owned subsidiary of Brasiliana Energia S.A. (Brasiliana), plans to sell a portion of its interest in Eletropaulo Metropolitana Eletricidade de Sao Paulo S.A. (Eletropaulo), the largest regulated electric utility in Brazil. Brasiliana is jointly owned by AES and the Brazilian National Development Bank (BNDES).
Proceeds from the secondary sale are expected to be used by Brasiliana to repay in full its debt to BNDES, which was $582 million as of March 31, 2006. Upon completion of the proposed sale, Brasiliana will continue to control ...