Document:

Exhibit 4.32

 

Summary of Private Contract for Investment in Transmission Assets, among Companhia Energética de Minas Gerais – Cemig, Cemig Geração e Transmissão S.A. e Trasmissora Aliança de Energia Elétrica S.A. dated May 17, 2012.

 

On May 17, 2012 Cemig and Cemig GT signed, with Cemig GT’s subsidiary Taesa, a contract referred to as the Transmission Assets Investment Contract, in the amount of R$ 1.732 billion (the amount is to be updated from December 31, 2011 to the date of conclusion of the transaction, and to be reduced by the amount of any dividends or Interest on Equity declared after December 31, 2011, whether paid or not), under which the total of the holdings directly or indirectly held by Cemig and/or Cemig GT (listed below) in the following electricity transmission companies will be transferred to Taesa, namely:

 

	
(i)
    	
49.98%   of EATE;
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
(ii)
    	
19.09%   of ECTE;
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
(iii)
    	
49.99%   of ENTE;
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
(iv)
    	
49.99%   of ERTE;
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
(v)
    	
49.98%   of ETEP;
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
(vi)
    	
39.98%   of STC
    	
 
    	
(indirect stockholding – EATE being holder of 80% of STC, Cemig being   holder of 49.98% of EATE);
    
	
 
    	
 
    	
 
    	
 
    
	
(vii)
    	
49.98%   of ESDE
    	
 
    	
(indirect stockholding through ETEP, Cemig being holder of 49.98% of   ETEP);
    
	
 
    	
 
    	
 
    	
 
    
	
(viii)
    	
39.98%   of Lumitrans
    	
 
    	
(indirect stockholding – EATE being holder of 80% of Lumitrans, Cemig   being holder of 49.98% of EATE);
    
	
 
    	
 
    	
 
    	
 
    
	
(ix)
    	
19.09%   of ETSE
    	
 
    	
(comprising indirect stockholding through ECTE, Cemig being holder of   19.09 of ECTE); and
    
	
 
    	
 
    	
 
    	
 
    
	
(x)
    	
74.49%   of EBTE
    	
 
    	
(49% of EBTE being directly held by Cemig GT, the remainder being   indirectly held through Cemig’s ownership of 49.98% of EATE, which owns 51%   of EBTE);
    

 

– this group of companies being jointly referred to as “the TBE Group”.

 

Under the Contract signed by the parties, Taesa may not dispose of, assign or transfer its holding in the companies of the TBE Group for 120 months from the date of the actual transfer of the said holding, unless previously authorized by Cemig. During that period Taesa may dispose of, assign or transfer any stockholding in the companies of the TBE Group, in whole or in part, provided that it transfers to Cemig the positive difference between the amount for which such assets of the TBE Group were transferred to Taesa, and the amount obtained on such disposal, assignment or transfer, duly updated by the Selic rate published by the Brazilian Central Bank on the day of the disposal, assignment or transfer becoming effective.

 

Conclusion of the stockholding restructuring transaction and actual transfer of the assets listed above was made conditional upon certain conditions precedent, including the consent of the creditors of the TBE Group and approval of the transaction by Aneel.

 

On July 4, 2012 the Brazil monopolies authority, the Administrative Economic Defense Council (Conselho Administrativo de Defesa Econômica, or Cade), held a meeting to issue judgment on the transfer of these percentages of control of the concessions, and approved the transaction unanimously. This was published in the federal Official Gazette (Diário Oficial da União, or DOU) on July 10, 2012. On April 4, 2013, through Authorizing Resolution 4029, Aneel also approved the restructuring transaction. All the financing banks also approved the transaction, with the exception only of the Brazilian Development Bank (Banco Nacional de Desenvolvimento Econômico e Social, or BNDES) — it approval is expected in May 2013.Exhibit 4.33

 

Summary of the Share Purchase Agreement between Cemig Capim Branco Energia S.A., Suzano Papel e Celulose S.A., and Suzano Holding S.A., internening by Comercial Agrícola Paineiras LTDA (“Paineiras”) e Epícares Empreendimentos e Participações LTDA (“Epícares”)

 

 

On March 12th, 2013, Cemig Capim Branco Energia S.A (“Cemig Capim Branco”) signed a Share Purchase Agreement with Suzano Papel e Celulose S.A. (“SPC”), and Suzano Holding S.A. (“Suzano”) to acquire 30.3030% of the Epícares, which owns 17.8947% of the Consórcio Capim Branco Energia.

 

For the acquisition to be concluded, SPC and Suzano transferred 30.3030% of the shares held in Epícares to Cemig Capim Branco.

 

The acquisition price is R$ 97 million.

 

The acquisition price was deposited in escrow account, and the variation until May 31th will be owned by Cemig Capim Branco and, after this date, will be owned by SPC and Suzano.

 

In the event the Share Purchase Agreement is rescinded, the infringing party will be subject to a penalty equivalent to 10% of the acquisition price.

 

The Share Purchase Agreement contains warranties, guarantees and obligations by Cemig Capim Branco, SPC and Suzano.

 

The closing of the transaction is subject to certain conditions, which include:

 

Approval by the National Electricity Agency (Agência Nacional de Energia Elétrica, or Aneel) and consents from financing banks, when necessary.

 

The acquisition was already approved by Economic Defense Administrative Council (Conselho Administrativo de Defesa Econômica, or Cade), on April 18, 2013.Exhibit 4.34

 

 

Auditors' Letter Regarding Change in Auditor

 

 

April 29, 2013

Securities and Exchange Commission

Washington, D.C. 20549

 

 

 

Ladies and Gentlemen:

 

We were previously principal auditors for Companhia Energética de Minas Gerais – CEMIG and, under the date of April 29, 2013, we re-issued our report on the consolidated financial statements of Companhia Energética de Minas Gerais – CEMIG as of and for the years ended December 31, 2011 and 2010. We had originally issued our report under the date of April 26, 2012 reporting on these consolidated financial statements and the effectiveness of internal control over financial reporting as of December 31, 2011. On July 10, 2012, Companhia Energética de Minas Gerais – CEMIG formally notified the regulator / market that under CVM  Instruction 308/99 the principal auditors would be changed as from the second quarter of 2012.

 

We have read Companhia Energética de Minas Gerais – CEMIG statement included under item 16F of its Form 20F dated April 29, 2013, and we agree with such statement.

 

 

 

Very truly yours,

/s/ KPMG Auditores Independentes

 

KPMG Auditores Independentes

Belo Horizonte, BrazilExhibit 4.35

 

 

Summary of the Commitment Undertakings for settlement of the CRC Account:

 

COMMITMENT UNDERTAKING FOR SETTLEMENT, SIGNED BETWEEN THE STATE OF MINAS GERAIS AND COMPANHIA ENERGETICA DE MINAS GERAIS – CEMIG

 

On November 20, 2012, Companhia Energética de Minas Gerais – Cemig (“Cemig”) and the State of Minas Gerais entered into a Commitment Undertaking reflecting the parties’ commitment to arrange for the State to make early payment of the debt under the Contract for Assignment of the Outstanding Balance on the Earnings Compensation Account (Contrato de Cessão de Crédito do Saldo Remanescente da Conta de Resultados a Compensar) (“the CONTRACT”);

 

In the Commitment Undertaking the State recognized and declared its liability for debt under the CRC contract in the total amount of R$ 6,120,032,387.96 (six billion, one hundred and twenty million, thirty two thousand, three hundred and eight seven Reais and ninety six centavos), on the base date of October 31, 2012 (“the DEBIT”).

 

If Cemig completes its intended acquisition of the senior units of the FIDC by January 31, 2013, the Parties agree, to make possible payment by the STATE on that date of the full amount of the debt arising under the CONTRACT, a discount on the value of the DEBIT of 35% (thirty five per cent).  After the application of the discount, the resulting amount owed by the STATE to CEMIG is R$ 3,978,021,052.17 (three billion, nine hundred and seventy eight million, twenty one thousand, fifty two Reais and seventeen centavos), on base-date October 31, 2012 (herein, simply “the UPDATED DEBIT”).

 

If the payment takes place in installments, the remaining balance of the UPDATED DEBIT will continue to be adjusted, pro rata, by the interest rate of the CONTRACT.

 

The STATE is hereby irrecoverably authorized to retain and to pass through to the federal government the amount agreed between Cemig and the Federal Treasury Secretariat, of R$ 400,904,996.45 (four hundred million, nine hundred and four thousand, nine hundred and ninety six Reais and forty five centavos), on the base-date of October 31, 2012, to settle the legal action existing between Cemig and the federal government related to the now extinct CRC Account.

 

The CONTRACT is irrecoverable, except in the event of the inflow of funds referred to by State Law 19964 of December 26, 2011, not taking place by January 31, 2013 and the Board of Directors of Cemig not ratifying the signature of the Undertaking.  If the inflow does not take place, the Parties shall renegotiate the economic and financial conditions specified in this instrument.

 

 

AMENDMENT TO THE COMMITMENT UNDERTAKING FOR SETTLEMENT SIGNED BY THE STATE OF MINAS GERAIS AND COMPANHIA ENERGETICA MINAS GERAIS – CEMIG.

 

On January 25, 2013, Companhia Energética de Minas Gerais – Cemig (“Cemig”) and the State of Minas Gerais signed an amendment to the Commitment Undertaking, in which they agreed to alter the drafting of the head paragraph and of the Paragraph 1 of Clause 2 of the Commitment Undertaking, the new drafting being as follows:

 

“CLAUSE 2 - AMOUNT OWED BY THE STATE.

 

 

The STATE recognizes and declares its liability for an amount owed under the CONTRACT totaling R$ 6,282,551,338.98 (six billion, two hundred and eighty two million, five hundred and fifty one thousand, three hundred and thirty eight Reais and ninety eight centavos), on the base date of October 31, 2012 (herein, simply “the DEBIT”), including capitalized interest pro-rata up to October 2012.

 

Paragraph 1 –   With the acquisition of the senior units of the FIDC, completed by Cemig by January 31, 2013, the Parties agree, to make possible the payment by the STATE by this date of the total amount of the debt arising out of the contract, a discount on the value of the DEBIT of 35% (thirty five per cent).  After the application of the discount, the debit owed by the STATE to CEMIG totals R$ 4,083,658,370.34 (four billion, eighty three million, six hundred and fifty eight thousand, three hundred and seventy Reais and thirty four centavos), on the base date of October 31, 2012 (herein, simply “the UPDATED DEBIT”).”

 

 

TERM OF FINAL SETTLEMENT SIGNED BETWEEN THE STATE OF MINAS GERAIS AND COMPANHIA ENERGETICA MINAS GERAIS – CEMIG.

 

On March 12, 2013, Companhia Energética Minas Gerais – Cemig (“Cemig”) and the State of Minas Gerais entered into a Term of Final Settlement in which they give full, total and final quittance in relation to the amount of R$ 4,211,453,868.34 (four billion, two hundred and eleven million, four hundred and fifty three thousand, eight hundred and sixty eight Reais and thirty four centavos), duly updated and augmented by the interest specified in the CRC Contract up to the date of actual payment, mentioned above, for which they sign this instrument in 2 (two) copies of equal content and form, for single legal effect.

 

The settlements of the amount referred to above took place according to the following table:

 

	
DATE
    	
AMOUNT
    
	
18/12/2012
    	
934,467,975.00
    
	
26/12/2012
    	
800,000,000.00
    
	
28/12/2012
    	
11,340,000.00
    
	
27/02/2013
    	
787,130,000.00
    
	
28/02/2013
    	
1,681,701,759.04
    
	
11/03/2013 (Restitution)
    	
(3,185,865.70)
    
	
Total
    	
4,211,453,868,34

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