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Companhia Energetica de Minas Gerais CEMIG (CIG)

CIG on New York Consolidated

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22 Aug 2017
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Latest Key Developments (Source: Significant Developments)

Cemig concludes sale of stake in Transchile Charrua Transmision to unit of Ferrovial
Friday, 7 Oct 2016 12:45pm EDT 

Companhia Energetica de Minas Gerais CEMIG :Said on Thursday it concluded the sale of its whole 49 percent stake in Transchile Charrua Transmision SA to Ferrovial Transco Chile SpA, a unit of Ferrovial SA Full Article

Cemig and FIP Coliseu to sell 65.7 mln units of Taesa
Monday, 3 Oct 2016 06:25am EDT 

Transmissora Alianca de Energia Eletrica SA (Taesa): Said on Friday that Fundo de Investimento em Participacoes Coliseu (FIP Coliseu) and Companhia Energetica de Minas Gerais CEMIG (Cemig) had initiated a restricted offering to sell a combined stake of 65.7 million units of Taesa . The offering to be coordinated by Bank of America Merrill Lynch Banco Multiplo, BB-Banco de Investimento, Banco de Investimentos Credit Suisse (Brasil), Banco Modal and Banco Santander (Brasil) .A price per unit to be set upon bookbuilding procedure.  Full Article

Cemig to sell up to 40.7 mln units of Taesa
Thursday, 1 Sep 2016 11:17am EDT 

Companhia Energetica de Minas Gerais SA :Said on Wednesday that its board of directors authorized the sale of up to 40.7 million units of Transmissora Alianca de Energia Eletrica SA (Taesa) , corresponding to 40.7 million common and 81.4 million preferred shares.  Full Article

Moody's recalibrates Brazil's national rating scale and repositions national scale ratings of Brazilian infrastructure issuers
Monday, 9 May 2016 09:25pm EDT 

Moody's : Recalibrates Brazil's national rating scale and repositions national scale ratings of Brazilian infrastructure issuers .Repositioned national scale of 26 Brazilian infrastructure issuers in conjunction with recalibration of Brazilian national rating scale.  Full Article

Companhia Energetica de Minas Gerais Cemig announces dividend payment
Monday, 2 May 2016 07:39am EDT 

Companhia Energetica de Minas Gerais Cemig:Says that the extraordinary meeting approved a dividend payment of 434.0 million Brazilian reais, corresponding t 0.345 reais per share.Record date on April 29.Ex-dividend date on May 2.Dividend to be paid by Dec. 30.  Full Article

BNDES Participacoes SA increases its stake in Companhia Energetica de Minas Gerais Cemig
Friday, 4 Mar 2016 06:39am EST 

Companhia Energetica de Minas Gerais Cemig:Says BNDES Participacoes SA has converted debentures of AGC Energia into 54.3 million common and 16.7 million preferred shares of the company.Says after conversion BNDES Participacoes SA has increased its shareholding interest in the company to12.9 percent of total common stock from 0 percent, and to 3.13 percent of total preferred stock from 1.13 percent.  Full Article

Companhia Energetica Minas Gerais - Brazil court suspends Amazon hydrodam license on native demands - Reuters
Thursday, 14 Jan 2016 02:54pm EST 

Companhia Energetica Minas Gerais:A Brazilian court suspended the operating license for the Belo Monte hydroelectric dam, just weeks before owner Norte Energia SA planned to start electricity generation, prosecutors said on Thursday - RTRS.Judge Maria Carolina Valente do Carmo of the Federal Court in Altamira, Para, said the license will be suspended until Norte Energia and Brazil's government meet a previous license requirement to reorganize the regional office of Funai, the national Indian protection agency - RTRS.A judge had already ordered the government and Norte Energia to carry out the Funai restructuring work in 2014, so Valente do Carmo also fined the government and the company 900,000 reais ($225,000) for non-compliance - RTRS.Belo Monte will have an installed capacity of 11,233 megawatts. Its average output, though, will only be about a third of that as the original reservoir was greatly reduced at the request of native groups and environmentalists. - RTRS.These critics objected to the dam blocking one of the last free-flowing major tributaries of the Amazon. They also opposed an early reservoir plan that would have flooded thousands of square kilometers of virgin rain forest - RTRS.Norte Energia, which is building and will operate the dam, is a consortium led by Brazil's state-run utility Centrais Eletricas Brasileiras; Centrais Eletricas de Minas Gerais; Brazil's Neoenergia SA and Vale SA - RTRS.  Full Article

Companhia Energetica de Minas Gerais Cemig's unit signs concession contracts for 18 generation plants
Wednesday, 6 Jan 2016 05:39am EST 

Companhia Energetica de Minas Gerais Cemig:Says that its wholly-owned subsidiary Cemig Geracao e Transmissao SA (Cemig GT) signed the concession contracts for operation of the 18 generation plants.The 18 generation plants were offered as Lot D in Aneel Auction 12/2015 in Nov. 2015, acquired by Cemig GT for 2.26 billion Brazilian reais.  Full Article

Companhia Energetica de Minas Gerais Cemig announces own capital interest payment
Monday, 4 Jan 2016 05:43am EST 

Companhia Energetica de Minas Gerais Cemig:Says on Dec. 30, 2015, it decided to pay own capital interest totaling 200 million Brazilian reais, corresponding to 0.159 reais per share.Payment in two installments: the first until June 30, 2016 and the second until Dec. 30, 2016.Record date Dec. 30, 2015.Ex-interest as of Jan. 4, 2016.  Full Article

Brazil's Cemig profit misses estimates as financial income slumps

SAO PAULO, Aug 14 Cia Energética de Minas Gerais SA missed second-quarter profit estimates as some costs rose faster than revenue and income from financial investments slumped, probably reflecting a decline in domestic borrowing costs.