SÃO PAULO (Reuters) - Brazil’s Companhia Energética de Minas Gerais, or Cemig (CMIG4.SA), said it had teamed up with a Colombian partner to bid for Colombia’s third-biggest power generator, Isagen SA ISG.CN.
In a statement, Cemig said it had formed a consortium with Empresas Públicas de Medellín EMPPM.UL, another Colombian company, to make a bid for Isagen.
The move is part of efforts by Cemig, Brazil’s second-largest power utility, to expand in fast-growing markets and industry segments. Colombia’s government has been seeking buyers for its 56.7 percent stake in Isagen.
Reporting by Alberto Alerigi Jr; Editing by Jonathan Oatis