Copel to Bid for Sanepar Water System.CURITIBA, Brazil--(BUSINESS WIRE)--June 5, 1998--Companhia Paranaense de Energia - COPEL COPEL Companhia Paranaense de Eletricidade (NYSE NYSE See: New York Stock Exchange :ELP) said today that it intends to join a group being formed to participate in an auction to be held for 39.71% of the 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, the water and sewage system sewage system Collection of pipes and mains, treatment works, and discharge lines (sewers) for the wastewater of a community. Early civilizations often built drainage systems in urban areas to handle storm runoff. currently controlled by the State of Parana. The State Government has scheduled the auction for Monday, June 8, 1998, in Curitiba. SANEPAR operates public water and sewage systems throughout the State of Parana, home to approximately 7 million people, 4.4% of the Brazilian population. SANEPAR registered net revenues of R$470.323 million and net income of R$22.429 million in 1997. Total assets were R$1.843 billion and shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. was R$970.724 million at December 31, 1997. Mr. Ingo Hubert, Chief Executive Officer of COPEL, said: "Our participation in the auction for SANEPAR is another step in COPEL's program of broadening our range of services and creating the efficiencies that a large and complex system such as ours requires." The Company recently announced that it had successfully negotiated the purchase of a 45% interest in a telecommunications company See telecom company. , Sercomtel S.A. Telecomunicacoes, from the municipality of Londrina. COPEL is one of South America's largest integrated utilities, with 18 generation plants having 3,340 megawatts of installed capacity, 6,350 kilometers of transmission lines, and 140,838 kilometers of distribution lines. CONTACT: COPEL Ricardo Portugal Alves 011-55-41-222-2871 or Solange Maueler 011-55-41-322-3535 FAX: 011-55-41-331-2849 or Georgeson & Company Peter Firestein, 212-440-9841 |
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