US power company AES (NYSE: AES) sees Brazilian federal development bank BNDES selling its 49.99% stake in power holding company Brasiliana late in the second quarter or early third quarter, AES's chief operating officer and executive president Andrés Gluski told a webcast.
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"We are very interested in exercising our first refusal right, and in order to do so we have local financing in place and interest from local partners as well," he said.
Companies such as Cemig (NYSE: CIG) and CPFL Energia (NYSE: CPL) have previously shown interest in purchasing the 49.99% stake in case AES is not interested in exercising its right to the BNDES shares.
Brasiliana assets include power distribution companies AES Eletropaulo, which serves São Paulo city, and AES Tietê, which operates in São Paulo state.
AES, which owns the other 50.01% of Brasiliana, has the right to the BNDES stake under a 1998 deal to privatize the holding company.
