The government of Minas Gerais wants to privatize the Companhia Energetica de Minas Gerais (Cemig), — the state's largest stateship. The information was confirmed by the governor of MG, Romeu Zena (New Party), who took office on January 1. According to Zema, the government also prepares a package of bills, among them, which enables the company's de-nationalization, for approval in the Legislative Assembly.
As usual, the justification for the sale of the state is due to the reduction of expenditures in public accounts. Zema has already declared that he wants the accession of Minas Gerais to the federal government's tax recovery regime. The regime allows states in fiscal crisis to stay for three years without paying the debt service to the Union, in exchange for a series of measures to cut costs, among them, the denationalization of companies.
Among the largest electric power companies in the country, Cemig has shares traded in the stock exchanges of São Paulo (B3), new York and Madrid, with about 127,000 shareholders in 44 countries. In addition to its market valuation, the company stands out in the electricity sector for its strong sustainable performance.
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