TEMER: Plant Auction Shows 'definitive Rescue' Of Confidence In Brazil

(RTTNews) - "We have definitively rescued the world's trust in Brazil," wrote the Brazilian President Michel Temer on Twitter this morning while commenting the auction of the Jaguara, Miranda, São Simão and Volta Grande power plants.

The auction raised R$ 12.13 billion for the federal government, with a 9.63% premium over the minimum bidding. The result of the auction, according to Temer, was above market expectations.

China's Spic Pacific closed out São Simão for R$ 7.180 billion, while the Jaguara and Miranda plants were bought by Engie Brasil, for R$ 2.171 billion and R$ 1.360 billion, respectively. The plant at Volta Grande was sold to Enel for R$ 1.419 billion.