Brazil’s Copel to launch privatization offering of up to $1 billion

This post was originally published on this site

The offering will amount to between 4.3 billion reais and 5 billion reais based on Monday’s closing price and considers the sale of part of Parana state’s stake in the firm and the sale of new shares, Copel said.

Copel added that the offering is still subject to market conditions.

The deal is also pending the definition of some conditions by authorities, such as the minimum price of the offering, established by Parana State audit court.

BTG Pactual, Bradesco BBI, Morgan Stanley (NYSE:MS), and UBS Brasil are managing the offering.

($1 = 4.7491 reais)