Power Holdco Clinches State Cash

Brazil’s Alupar, which owns stakes in several Brazilian and one Chilean power generation and distribution assets, has raised BRL400m by issuing new shares directly to a vehicle controlled by the state-run FGTS worker’s fund. Proceeds from the capital raise will go toward infrastructure maintenance and expansion within Alupar’s portfolio of assets, it says in a statement with the CVM. It does not disclose the price at which it placed the shares.