SAO PAULO, BRAZIL - Patria Investments is planning to sell Brazil's power company Argo, which owns 683.5 miles (1,100 km) of power transmission lines mainly in the northeastern region of Brazil, Reuters reports.

Patria is seeking about $1.5 billion for the company, including debt.

Reuters cites the Brazilian newspaper O Estado de S. Paulo which said the sale process is in its early stages. Patria, in which U.S. private equity firm Blackstone Group LP has a 40 percent stake, did not comment on the matter.

Source: Reuters