Bonaire, partner to sell stake in Brazil's CPFL Energia

SAO PAULO, June 13 Fri Jun 13, 2014 5:47pm EDT

SAO PAULO, June 13 (Reuters) - Brazilian investment funds Bonaire Participações SA and Energia São Paulo FIA hired JPMorgan Chase & Co to advise them on the potential sale of their stake in CPFL Energia SA, a major Brazilian power holding company.

In a securities filing on Friday, the decision respects an accord between Bonaire, VBC Energia SA e 521 Participações SA to share control of CPFL. Both Bonaire and Energia São Paulo are investment vehicles comprised of pension funds Funcesp, Petros, Sistel e Sabesprev.

Terms of the deal, including the number of shares to be put on the block and potential buyers, was not disclosed in the filing. (Reporting by Guillermo Parra-Bernal; Editing by Dan Grebler)