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May 29, 1997

A group led by AES Corp. and Southern Co. agreed to buy a $1- billion stake in one of Brazil's largest regional electric utilities, known as Cemig, betting on a power market that's growing at least twice as fast as in the United States. . . . The champagne and luxury goods company LVMH Moet Hennessy Louis Vuitton threatened a takeover of a liquor distribution partnership with Guinness because it was left out of a bigger merger. The French group said that if it can't participate in a wine and spirits group with Guinness and Grand Metropolitan, it will break up an earlier deal with Guinness. . . . CommNet Cellular Inc. said it agreed to be acquired by AV Acquisition Corp., a corporation formed by Blackstone Capital Partners Merchant Banking Fund, in a transaction valued at about $718 million.

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