EDF Takes Bids

Electricité de France (EDF) has closed the bidding for a stake in its Brazilian unit, Light. EDF has still to say exactly how much of its unit it will sell off. Last year Light posted profits for the first time in six years. Among those interested in bidding were a consortium made up of construction firm Andrade Gutierrez and electricity producer Cemig; the Energia Rio grouping which included UK investment fund Millennium; Patria-Primus bank and GP Investimentos. Goldman Sachs and Citibank are managing the sale.