Cemig (Brazil) acquires Terna (Brazil) for US$ 1B

Cemig Geracao e Transmissao SA acquires Terna Participacoes SA from Trasmissione Elettricita Rete

Cemig Geracao e Transmissao SA (Cemig), a wholly-owned unit of Cia Energetica de Minas Gerais, agreed to acquire a 65.86% interest, or 173.527 mil ordinary shares, equivalent to 85.27% of the voting capital, in Terna Participacoes SA (Terna), a Rio de Janeiro-based electric utility holding company, from Trasmissione Elettricita Rete Nazionale SpA of Italy, for BRL 13.43 (USD 6.084) per share or a total value of BRL 2.33 bil (USD 1.056 bil). Concurrently, Cemig planned to acquire the remaining 34. 14% stake, or 89.945 mil ordinary shares, which it did not already own, in Terna.