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Article: AES AND BNDES REACH PRELIMINARY DEAL TO REPAY BRASILIANA'S DEBT.

Article from:
AsiaPulse News
Article date:
June 1, 2006
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ARLINGTON, Va., (BUSINESS WIRE) May 31, 2006 - 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, ...

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