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AES “positioned” for Brasiliana buyout

25 March 2008 – US power company AES is “positioned” to acquire Brazilian federal development bank BNDES’s 49.99 per cent stake in power holding company Brasiliana, AES Brasil CFO Alexandre Inneco told a webcast.

AES owns a 50.01 per cent stake in Brasiliana and as such has first dibs to acquire the remaining stake. “We are positioned to confirm our right of first refusal and we are waiting for the Brazilian government to schedule a date for the auction,” Inneco said.

BNDES has not decided when to sell its stake in the holding company. Other power companies such as CPFL Energia and Cemig have expressed interest in acquiring BNDES’s stake.

Brasiliana controls power distribution companies AES Eletropaulo and AES Tietê.