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LatinNews Daily - 22 November 2022
In brief: Brazil’s Paraná to privatise energy firm Copel
*Brazilian energy company Companhia Paranaense de Energia (Copel) announced that the state of Paraná, which owns a controlling stake in the group, plans to sell most of its shares. Copel’s bylaws will also be changed to turn the firm into a dispersed ownership group, where no shareholder would be able to hold more than 10% of shares. The move will in practice privatise Copel, which has been operating as a state-run utility group. Yesterday, the company’s share price increased more than 20% after the privatisation plans were announced.
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