CMS Energy completes sale of local unit to CPFL Energia
Bnamericas Published: Tuesday, June 19, 2007
US power company CMS Energy (NYSE: CMS) has closed the sale of CMS Energy Brasil to power holding company CPFL Energia for US$211mn, CMS Energy said in a statement. "Proceeds from the sale will be used to reduce debt at CMS Energy and invest in CMS Energy's Michigan utility," the statement said. CMS Energy is pulling out of Brazil with the sale of CMS Energy Brasil. CMS Energy Brasil owned distributors CPEE, CJE, CSPE and CLFM as well as assets in generator Jaguari and power trading company CMS Comercializadora.
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