By Rogerio Jelmayer
SAO PAULO--Brazilian electric power utility Eneva SA (ENEV3.BR),
controlled by Germany's E.ON SE (EONGY) and Brazilian businessman
Eike Batista reached an agreement to halt payment of amortization
and interest on financial transactions with some banks.
The company said it will halt the payment--until Nov. 21--of
amortization and the payments of interest on financial transactions
of the company and its subsidiaries with financial institutions,
including Brazil's National Development Bank, the BNDES, Banco BTG
Pactual, Banco Citibank, HSBC Bank Brazil and Banco Itau
Unibanco.
It didn't unveil the total amount of its debts.
"The agreement aims to preserve Eneva and its subsidiaries' cash
position, as well as enable us to continue the stabilization plan
of the company," it said over the weekend.
Eneva's share was down 8% so far during Monday's session, while
the main local stock index, the Ibovespa, was down 1%.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires