August 14, 2019 / 3:02 PM / a year ago

Brazil's CPFL considers bidding in privatization of distribution co, looks for other targets- exec

SAO PAULO, Aug 14 (Reuters) - Brazilian power company CPFL Energia is considering bidding in the privatization of Rio Grande do Sul state power company CEEE and looking for other targets to grow its distribution business, Chief Executive Officer Gustavo Estrella told analysts in a conference call on Wednesday.

“We are looking for other targets in distribution beyond CEEE,” Estrella said. Controlled by State Grid Corporation of China, CPFL has just concluded a share offering that raised 3.7 billion reais ($922 million) and the company is now prepared to grow, the CEO added.($1 = 4.0121 reais) (Reporting by Luciano Costa; Writing by Tatiana Bautzer)

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