August 9, 2018 / 8:43 PM / 6 days ago

France's Engie considers bid for Brazil's power generator Cesp: executive

SAO PAULO (Reuters) - The Brazilian subsidiary of France’s Engie SA (ENGIE.PA) is considering a bid for local power generation company CESP Companhia Energética de Sao Paulo (CESP6.SA), a senior executive told analysts on Thursday.

Eduardo Sattamini, chief executive officer of Engie Brasil Energia SA (EGIE3.SA), said the company was analyzing Cesp. “It’s an interesting asset,” he said.

The local CEO also said Engie’s exclusive talks with state-controlled oil company Petroleo Brasileiro SA (PETR4.SA) to acquire gas pipeline company Transportadora Associada de Gás, known as TAG, were suspended by a Supreme Court decision that demanded all privatizations be previously authorized by Congress.

Writing by Tatiana Bautzer; editing by Jonathan Oatis

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