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Privatization of Brazilian power co Cemig may be approved this year - CEO

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Luciano Costa Reuters
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Privatization of Brazilian power company Companhia Energetica de Minas Gerais, known as Cemig, may be approved this year, its Chief Executive Officer told journalists on Friday.

SAO PAULO, Aug 16 (Reuters) - Privatization of Brazilian power company Companhia Energetica de Minas Gerais CMIG4.SA, known as Cemig, may be approved this year, its Chief Executive Officer told journalists on Friday.

CEO Cledorvino Belini said in a press conference the government of Minas Gerais expects to send the project to state legislature this month, and have it approved by the end of the year. Belini said the state government may also seek to approve the privatization of other assets.

(Reporting by Luciano Costa Editing by Chizu Nomiyama)

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