Bloomberg State Grid Corp. of China reached a deal to gain control of Brazil’s CPFL Energia SA, after two major shareholders agreed to sell the Chinese company their stakes in the $7.3 billion utility, people with knowledge of the matter said. Bonaire Participacoes and Banco do Brasil SA’s pension fund, known as Previ, have given informal approval to sell ...

  Bloomberg Everbright Securities Co. raised $1.1 billion after pricing its Hong Kong first-time share sale above the midpoint of a marketed range. The Chinese brokerage sold 680 million shares at HK$12.68 each, after earlier offering them at HK$11.80 to HK$13.26 apiece, according to terms for the deal obtained by Bloomberg on Friday. The final price represents a 38 percent ...

  Bloomberg International Monetary Fund staff said that 19 trillion yuan ($2.9 trillion) of Chinese “shadow” credit products are high-risk compared with corporate loans and highlighted the danger that defaults could lead to liquidity shocks. The investment products are structured by the likes of trust and securities companies and based on equities or on debt — typically loans — that ...