Eletrobras Sells Stake in Copel for BRL125.3M
By Jeffrey T. Lewis
SÃO PAULO--Centrais Elétricas Brasileiras sold its entire stake of 15.3 million shares in Companhia Paranaense de Energia - COPEL for the equivalent of about $25 million.
The Brazilian power company known as Eletrobras said Monday evening that the sale, for 125.3 million reais, is part of its plan to reduce the number of minority, non-strategic stakes it owns in other power companies. The effort will also simplify its investment portfolio, Eletrobras said.
Following the sale of the COPEL stake, Eletrobras said it has cut the number of minority stakes the electric utility owns to 19.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
September 05, 2023 08:07 ET (12:07 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks