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AES to buy Tiete and Electropaulo

Virginia-based AES Corporation has offered to buy the remainder of the shares in Brazilian hydro generator Compania de Geracao de Energia Eletrica Tiete. AES already owns a 43.7% interest in Tiete.

Tiete is a hydroelectric generation company with an installed capacity of 2644MW.

Meanwhile, AES has launched a separate offer for outstanding preference shares in Eletropaulo, related to its purchase of preference shares in the company in January. Its interest is currently 45.4%.