Rede's Celpa Asks For Bankruptcy Protection In Brazil

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Celpa, an electricity distribution company owned by Brazil's Grupo Rede Energia , filed for bankruptcy protection under Brazilian law on Tuesday, according to a securities filing, Reuters reported. "In spite of the efforts by management with creditors and potential investors (in the company), the request for bankruptcy protection was inevitable as the financial and economic situation of Celia aggravated," the filing said, adding that the company aims to keep serving its customers. Read more.