Petrobras hopes to buy Gasmig stake in up to 3 mos
Bnamericas Published: Wednesday, July 02, 2003
Brazil's federal energy company Petrobras on Tuesday said it expects to complete negotiations for the acquisition of a 25% stake in Minas Gerais gas distributor Gasmig within three months. Ildo Sauer, Petrobras' gas and energy director, predicted a deal will be likely reached "in August or September at the latest." Petrobras and Gasmig recently announced a cooperation agreement aimed at boosting natural gas supplies in Minas Gerais, Brazil's third wealthiest state, from the current 1.9 million cubic meters to 5 million cubic meters per day. Gasmig is almost fully owned by state electric power distributor Cemig. by Kelly Lima
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