(Bloomberg)  October 7, 2010 – Cia. Energetica de Minas Gerais said Enlighted Partners Venture Capital LLC decided to exercise a put option to sell Cemig a stake in Light SA.

Cemig, based in Belo Horizonte, Brazil, said on March 24 it had the option to buy 19.9 million voting shares, or an additional 9.75 percent stake in Light through Newark, Delaware- based Luce Investment Fund from Enlighted. Cemig said in March it may pay $340.5 million for the stake.

The conclusion of the deal is subject to certain conditions, Cemig said in a regulatory filing today.

By Laura Price