COPEL Shareholders Approve Acquisition of SANEPAR.CURITIBA, Brazil--(BUSINESS WIRE)--July 1, 1998--Companhia Paranaense de Energia -- COPEL COPEL Companhia Paranaense de Eletricidade (NYSE NYSE See: New York Stock Exchange :ELP) - today announced the approval of the acquisition by COPEL of 20.69% interest in the 115,106,273 voting shares Voting Shares Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors. Notes: Different classes of shares, such as preferred stock, sometimes don't allow for voting rights. of SANEPAR (Companhia de Saneamento do Parana) at the company's Extraordinary General Shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. held on June 30, 1998. These shares, which represent a value of R$51,678,747.47, were sold at a public auction held on June 8, 1998, at the Parana Stock Exchange.
CONTACT: COPEL
Ricardo Portugal Alves, 011-55-41-222-2871
Solange Maueler, 011-55-41-322-3535
Fax: 011-55-41-331-2849
Georgeson & Co.
Peter Firestein, 212/440-9841
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