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Board of Brazil's Light approves sale of 137.2 million common shares

SAO PAULO, Jan 7 (Reuters) - Brazilian power company Light SA said its board of directors had approved the sale of 137.2 million common shares, including 68.6 million new shares, according to a securities filing on Thursday.

On Wednesday, Reuters reported Light was preparing to raise over 3 billion real ($564 million) in a share sale, citing two people with knowledge of the matter.

The deal will allow Light shareholder Companhia Energetica de Minas Gerais (Cemig), which owns a 22.6% stake in the utility, to sell its entire stake in Light.

Cemig has been divesting assets to pay down debts.

$1 = 5.3155 reais Reporting by Ana Mano Editing by Mark Potter

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