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Companhia Energetica de Minas Gerais CEMIG (CIG)

CIG on New York Consolidated

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29 Jul 2016
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Latest Key Developments (Source: Significant Developments)

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

Companhia Energetica de Minas Gerais Cemig's unit wins concession through UHE Itaocara consortium
Monday, 4 May 2015 08:33am EDT 

Companhia Energetica de Minas Gerais Cemig:Says that the Itaocara HydroPlant consortium (UHE Itaocara), of which a 49 percent interest is held by company's wholly-owned subsidiary Cemig Geracao e Transmissao SA, was awarded power supply concession for 30 years.Concession awarded in the 21st A-5 new-build supply auction.Supplies will start on Jan. 1, 2020.The remaining 51 percent of the UHE Itaocara consortium is held by Itaocara Energia Ltda, Light SA's wholly-owned subsidiary.Through the success of A-5 bid, the UHE Itaocara recovers concession annulled amicably in Nov. 2013.  Full Article

Companhia Energetica de Minas Gerais Cemig proposes FY 2014 dividend payment
Monday, 6 Apr 2015 11:09am EDT 

Companhia Energetica de Minas Gerais Cemig:Says it proposes dividend payment, ad referendum April 30, of 567.32 million Brazilian reais from FY 2014 net profit for dividends, or 0.45 real per share.Dividend payment to be until Dec. 30.Record date April 30.Ex-dividend date May 4.  Full Article

Companhia Energetica de Minas Gerais Cemig concludes acquisition of stake in Alianca Norte Energia Participacoes
Wednesday, 1 Apr 2015 08:46am EDT 

Companhia Energetica de Minas Gerais Cemig:Says that on March 31, it has concluded the acquisition of a 49 pct stake in Alianca Norte Energia Participacoes SA from Vale SA.Acquisition price of 305,777,900.52 Brazilian reais.Alianca Norte Energia Participacoes had a 9 pct stake in Norte Energia SA, now of 4.41 pct, with Vale SA holding the remaining 4.59 pct in Norte Energia SA.  Full Article

Companhia Energetica de Minas Gerais Cemig appoints new CEO and CFO
Friday, 23 Jan 2015 05:53am EST 

Companhia Energetica de Minas Gerais Cemig:Appoints Mauro Borges Lemos as new chief executive officer and Fabiano Maia Pereira as new chief financial officer.  Full Article

Brazil's Cemig denies it hired advisers to sell assets

BRASILIA, July 6 Cia Energética de Minas Gerais SA denied it has hired financial advisers to sell assets, the power distributor firm said in a statement on Wednesday.