Banco do Brasil (BBAS3): Analysts see Q2 balance as a "turning point" and "amazing";  The stock is up 4.4%

Cemig (CMIG4) celebrates contract to implement solar power plants, Copel (CPLE6) to issue up to R$1 billion in commercial bonds and more

Corporate news on Wednesday (24) highlights Cemig (CMIG4) that has signed full EPC supply contracts with CET Brazil, a subsidiary of China’s State Grid Corporation to implement solar photovoltaic plants (UFVs) Boa Hope and Downstream.

Cielo (CIEL3) has announced that it has formalized a proposal to Estanislau Bassols for the position of CEO of the company. The executive accepted the invitation.

Copel (CPLE6), in turn, will issue commercial bonds worth up to R$1 billion.

Check out more highlights:

Cielo (CIEL3) has informed that its Board of Directors has drafted a proposal for Estanislao Pasols to fill the position of CEO of the company. Basol accepted the call.

The CEO has extensive corporate management experience, having served as CEO of SKY, VR Benefits, and most recently as Head of Mastercard in Brazil, where he will continue to conduct the termination process until August 31, 2022.

Cemig (CMIG4) has informed that its subsidiary Cemig GT has entered into full EPC supply contracts with CET Brazil Transmissão de Energia, a subsidiary of the State Grid Corporation of China, for the implementation of Boa Esperança and Downstream Solar Photovoltaic Plants (UFVs), both of which are stipulated in the state of Minas Gerais.

UFV Boa Esperança will have 85 MW of installed power in the inverter (about 100.4 MW), located on land owned by Cemig GT, in the municipality of Montes Claros, Minas Gerais.

The UFV Downstream will consist of 7 plants of 10 MW each, with a total of 70 MW of installed capacity in the inverter (approximately 87 MW), located on land owned by Cemig GT, Municipality of São Gonçalo do Abaite, Minas Gerais.

The supply contracts signed with CET Brazil Transmissão de Energia Ltda are estimated at R$824 million, of which R$447 million is for UFV Boa Esperanca and R$377 million for UFV Downstream.

In addition, the BlackRock director reduced his stake in the company from 10.94% to 10.01%, with 130.7 million preferred shares.

Copel Geração e Transmissão will issue commercial bonds in the amount of up to one billion Brazilian reals, for a term of three years.

The funds raised will be used to partially amortize the company’s third, fourth and fifth bond issues and to meet various short-term obligations, including energy purchases, regulatory obligations and dividends.

Eletrobras (ELET3; ELET6) has informed that the relevant confidential arbitration referred to in the reference form, which includes the subsidiary Companhia de Geração e Transmissão de Energia Elétrica do Sul do Brasil – Eletrobras CGT Eletrosul, arising from the EPC contract to implement Phase C of UTE Candiota, He was sentenced.

The arbitration decision acknowledged the joint and multiple liability of the opposing party for material damages and losses amounting to 10.1 million Brazilian riyals. All other orders claimed by Eletrobras CGT Eletrosul and counter-orders claimed by the opposing parties were rejected. Eletrobras CGT Eletrosul was also ordered to compensate the disputing parties for costs incurred as a result of the arbitration process. The amount to be repaid, according to the arbitration award, is R$ 37.6 million, in addition to the arbitration costs of R$ 2.7 million.

Eneva (ENEV3) has completed the acquisition of 100% of the shares issued by CGTF – Central Geradora Termelétrica Fortaleza SA (CGTF) owned by Enel Brasil.

The process was concluded with the payment of 489.7 million Brazilian riyals, which the company implemented this Tuesday, after fulfilling all the previous conditions stipulated in the contract. The amount represents the Corporation’s value of R$431.5 million on the base date of March 31, 2022, plus the cash position of the CGTF on the same base date, less dividend payments paid to date, adjusted for the CDI period.

Domo clarifies that, as recorded in the material truth revealed on April 13, 2022, the company’s management continues to evaluate strategic options in its sector of activity.

PetroRio is one of the companies involved in the above operation, which is still going on, without
There is currently a definition of any tangible process, so the company understands that
There is no information to provide to the market on this subject.

Read also: Petrobras becomes the world’s largest dividend company; see ranking

On Sunday (21), a column by Lauro Jardim of O Globo newspaper stated that PetroRio intends to buy Dommo.

HBR Realty (HBRE3)

HBR Realty has announced the resignation of HBR CEO André Luis de Oliveira Agostinho. In this sense, the Council elected Alexander Reiss Nakano to temporarily exercise the office from this date to the end
The current term of the Board of Directors.

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