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Brazil's Cemig backs capital injection into power venture with Vale
November 21, 2016 / 8:17 PM / in a year

Brazil's Cemig backs capital injection into power venture with Vale

SAO PAULO, Nov 21 (Reuters) - Cia Energética de Minas Gerais SA has endorsed a plan to increase the capital of Aliança Geração de Energia SA by 1.27 billion reais ($379 million), in which the Brazilian power holding company has a 50 percent stake.

In a Monday securities filing, Cemig said it will subscribe 571,000 shares at a price of 1 real apiece.

$1 = 3.3503 reais Reporting by Guillermo Parra-Bernal; Editing by Chris Reese

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