Development bank may take $880 mm from sale of Copel shares

BNDESPar, the Brazilian Development Bank’s equity investment arm, plans to sell its 24% stake in state-owned utility Copel during the first half of 2021. The sale may yield R$4.4 billion ($880 mm) to BNDES, based on Wednesday’s prices of the stocks. The bank owns 38.3 million common stocks (26% of the total) and 27.3 million preferred stocks (21.2%) in the company.

Source: Valor International