State Grid Corp. of China’s Brazilian unit is seeking to raise about $1 billion by selling a minority stake, people familiar with the matter said, in a move aimed at cutting debt and boosting growth.
State Grid Brazil Holding SA is looking to sell a stake of around 25% and has been holding talks with several Chinese state-backed funds, the people said, asking not to be identified because the matter is private. It has approached potential investors including CNIC Corp., China-Portuguese Speaking Countries Cooperation & Development Fund, known as CPDFund, and CLAI Fund, the people said.
The closely-held Brazilian ...
