May 14, 2019 / 4:47 PM / 2 months ago

China's State Power makes binding offer for stake in Brazil dam - sources

SAO PAULO, May 14 (Reuters) - China's State Power Investment Corp has delivered a binding offer for a stake in the Santo Antônio hydropower dam, two sources with knowledge of the matter said.

The Chinese power group had already delivered a "tentative" bid for the 15% stake Brazilian power utility Companhia Energetica de Minas Gerais holds in Santo Antonio in October.

Both sources said the binding offer is lower than the tentative one, but declined to provide details. Cemig and the Chinese group are in talks about Santo Antonio since 2017.

Cemig and State Power Investment Corp declined to comment on the matter.

Other shareholders include Odebrecht Energia do Brasil SA, Furnas Centrais Eletricas SA, Caixa FIP Amazonia Energia and SAAG Investimentos SA. (Reporting by Luciano Costa; Writing by Carolina Mandl Editing by Marguerita Choy)

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