China’s State Grid will delist Brazilian renewables group CPFL Renováveis from the Brazilian stock exchange Bovespa after it takes control of parent entity CPFL Energia.
CPFL Renováveis has called a shareholders’ meeting to approve the hiring of a consultancy to appraise the company’s value and request the delisting.
State Grid is also taking steps to delist CPFL Energia in Brazil and abroad as part of a tag-along process.
