SAO PAULO Feb 19 Brazil's government is
studying the option of intervening in Spanish multinational
Abengoa SA, after the company failed to honor 375
million reais ($93 million) it owed to investment bank Grupo BTG
Pactual SA, newspapers said on Friday.
Electricity regulator Aneel and the energy ministry are
concerned a possible bankruptcy filing could slow efforts to
pass off transmission projects crucial to the national grid,
reported Valor Economico, citing unnamed officials.
Abengoa may also pose a risk to Brazilian banks including
BTG Pactual, which sued Abengoa after it defaulted on 375
million reais due last month, Estado de S. Paulo reported,
without saying how it obtained the information.
BTG had loaned the Spanish company 300 million reais ($75
million) to build a line linking the massive Belo Monte
hydroelectric dam to nearby states, according to O Estado.
Representatives for BTG Pactual and Aneel declined to
comment immediately on the report. An Abengoa representative and
energy ministry officials did not immediately respond to
requests for comment.
($1 = 4.04 Brazilian reais)
(Reporting by Brad Haynes, Guillermo Parra-Bernal and Luciano
Costa Editing by W Simon)