January 29, 2018 / 9:45 PM / 6 months ago

UPDATE 1-Brazil´s Minas Gerais state considers IPO of development agency -report

(Adds Codemig comments)

SAO PAULO, Jan 29 (Reuters) - The development agency owned by Brazilian state of Minas Gerais, known as Codemig, is planning an initial public offering and has invited investment banks to a hiring process, the company said in a statement on Monday.

Codemig did not confirm the amount of the offer or when it would take place. Codemig’s assets include a niobium mine, among other investments. Newspaper Valor Economico first reported that Codemig aimed to raise up to 3 billion reais ($950.90 million)by mid-year. ($1 = 3.1650 reais) ($1 = 3.1549 reais) (Reporting by Carolina Mandl)

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