$CEMIG(CIG)$Brazil utility Cemig wants to sell $2B in assets to cut debt
Brazilian utility Cemig (CIG +2%) is seeking to sell assets worth as much as 6.5B reais ($2B), and is in advanced talks with buyers for some of the assets, it says in a securities filing.Assets on sale include stakes in a transmission company, several hydroelectric dams, its natural gas distribution unit, a renewable energy company, a stake in a power company, and its telecom subsidiary.CIG says it needs to reduce its leverage, and aims to cut its net debt equivalent to 2.5x EBITDA from 4.2x by the middle of this year.