By Brazil Stock Guide – Companhia Energética de Minas Gerais SA (Cemig, NYSE: CIG), the Brazilian power utility, said it reached a settlement in a collective labor dispute involving its employee health plan. The company disclosed the agreement in a market filing on Sept. 12, following a relevant fact published in February.
Cemig said the deal was filed on Sept. 11 with the Regional Labor Court of the 3rd Region, under case number 0011802-15.2025.5.03.0000. The settlement was negotiated with the Sindicato dos Eletricitários do Sul de Minas Gerais (Sindsul) and the Federação dos Trabalhadores nas Indústrias Urbanas de Minas Gerais (Ftiumg).
Payout Terms
The agreement calls for a compensatory payout of up to 1.25 billion reais ($245 million), to be disbursed in six installments, with the last payment scheduled for 2030. The compensation covers 15,496 retirees, pensioners and active employees enrolled in Cemig Saúde’s PSI plan as of February 2025.
The settlement, which still requires court approval, has a resolutive nature and will apply to members of the signatory unions as well as those who choose to adhere later, Cemig said.
Leave a Reply